SECTION 5.1

Exercise 2Find Interest - 35,000 at 6% for 9 months

Using the formula

Exercise 4 Find Interest - 1875 at 5.3% for 7 Months

Using the formula

Exercise 8 Find Interest - 8940 at 9%; loan made May 7 and due Sept. 19

Using the formula

Exercise 16Find FV - 3475 Loan at 7.5% for 6 Months

Exercise 18 Find FV - 24,500 Loan at 9.6% for 10 Months

Exercise 22Find Present Value of 48,000 for 8 Months money earn 5%

future amount

Exercise 26A. Find the Price of the T-Bill B. Find the actual Interest rate paid by the treasury

6 Month T-Bill 18,000 with discount rate of %

Find the discount of the T-Bill by

A.

B.

Exercise 30 Late income Tax Due 34 Days 9.8% Interest

The total interest paid is...