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The Interest received at 15% per annum simple interest after 3 yrs is $630. Wha…
Related Topics
Wize University Introduction to Finance Textbook > Time Value of Money
Simple Interest
4 Activities
The Interest received at 15% per annum simple interest after 3 yrs is $630. What was the principal?
A) $1200
B) $1750
C) $1400
D) $2000
E) None of the above
I don't know
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More Simple Interest Questions:
Simple interest refers to interest that:
If an amount grows to 5 times the initial value at 5% interest. At what rate would it increase to 12 times the initial value?
A certain amount earns simple interest of $1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned ?
You have $10,000 to invest and your broker has offered you 17% simple interest.
You just inherited $30,000 and are considering an investment that will earn 8% simple interest per year.
What is the total amount accumulated after five years if you invest $2000 today with simple interest of 9%?