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- Question
The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region?s current population is 100,000, what is the expected population 10 years from now?
Options- A. 81707
- B. 91707
- C. 61707
- D. 71707
- Correct Answer
- 81707
Explanationi=j/m
FV = PV(1 + i)^n
- 1. Two payments of $10,000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?
Options- A. 17296
- B. 13296
- C. 19296
- D. 15296 Discuss
- 2. Mr. and Mrs. Espedido?s property taxes, amounting to $2450, are due on July 1.What amount should the city accept if the taxes are paid eight months in advance and the city can earn 6% compounded monthly on surplus funds?
Options- A. 2354.17
- B. 2354
- C. 2376
- D. 2389 Discuss
- 3. Find the time to double your investment at 6%
Options- A. 10years
- B. 11years
- C. 12years
- D. 13years Discuss
- 4. The effective annual rate of interest corresponding to nominal rate of 6% per annum payable half yearly is
Options- A. 5%
- B. 6%
- C. 7%
- D. 6.09% Discuss
- 5. Josh borrowed $250 from his mother to buy an electric scooter. Josh will pay her back in 1 year with 3% simple annual interest. How much interest will Josh pay?
Options- A. 7.50
- B. 8.50
- C. 9.50
- D. 10.50 Discuss
- 6. If Rs. 10000 amounts to Rs. 11664 invested in compound interest(compounded annually) for two years then the annual rate of compound interest is
Options- A. 10%
- B. 9%
- C. 8%
- D. 6% Discuss
- 7. At what rate of compound interest per annum will a sum of Rs 50000 become Rs 73205 in 2 years?
Options- A. 21 percent
- B. 19 percent
- C. 17 percent
- D. 15 percent Discuss
- 8. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 5% per annum is Rs 45. The sum is
Options- A. Rs 36000
- B. Rs 72000
- C. Rs 18000
- D. Rs 54000 Discuss
- 9. In what time(in years) will Rs. 8000 amount to Rs. 9261 at 5% per annum, compounded annually?
Options- A. 3
- B. 3.5
- C. 4
- D. 4.5 Discuss
- 10. The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is:
Options- A. 30000
- B. 30300
- C. 3000
- D. 3030 Discuss
Compound Interest problems
Search Results
Correct Answer: 19296
Explanation:
i=j/m
Correct Answer: 2354.17
Explanation:
i=j/m
PV= FV(1+ i)^-n
Correct Answer: 12years
Explanation:
M=p(1+i)^n
Correct Answer: 6.09%
Explanation:
amount=[100(1+3/100)^2]=Rs.106.09
Correct Answer: 7.50
Explanation:
I=prt/100
Correct Answer: 8%
Correct Answer: 21 percent
Correct Answer: Rs 18000
Correct Answer: 3
Correct Answer: 3000
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