Question 1: Linda received $875 on an investment of $14,000 at 15% annual simple interest rate. How long was the money invested?
Question 2: Freddy borrowed $10,000 for a car for 3 years and paid $1,500 in simple interest. What was the rate of interest?
Question 3: Diana owns municipal bonds valued at $14,500, which is 12% of her total investments. What is the value of her total investments? Round to the nearest dollar?
Question 4: What is the straight-line depreciation for a machine that was purchased for $15,000, cost $750 to install, has a useful life of six years and a salvage value of $500.
Question 5: Anita Tooms bought a new computer system. To pay for the system, she borrowed $2670 from the credit union at 7 1/3% interest for 85 days. Find the ordinary interest owed.