Exam-Type Exercises - Simple Interest - 1
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ScribdTranslationsFINANCIAL MATHEMATICS
CHAPTER 3
SIMPLE INTEREST
1. Sukasa receives on November 20, 2020, a promissory note for $2,800,000 to a
120-day period at 20% nominal annual due commercial simple interest.
On February 10, it is negotiated with a financial institution that acquires it at
a nominal annual discount rate of 25% in advance. How much will he receive?
the company for the promissory note and how much the financial institution will earn from it
operation?
Carlos owes $5,000,000 that he must settle within 8 months, and that he already
includes the interest, $4,500,000 contracted today at 20% to be paid within
of six months. If you decide to pay off your debts with 2 equal payments, one within
of 10 months and the other within a year, and the operation is calculated at 28%.
What will be the value of the two equal payments if the focal date is used:
the month 10.
b. Month 12.
3. A debt of $250,000 due in 12 months, with no interest, and another
of $150,000 and maturing in 20 months with an interest rate of 24%, will
to be canceled through two equal payments of $ X each due in 10 and
15 months respectively. With an interest rate of 20%, find the value.
of the payments. Set the focal date in month 15.
4. A debt of $350,000, due in 15 months and another of $X with
maturity in 24 months and interest of 28%, will be settled through
two equal payments of $250,000 each due in months 12 and 18
respectively. Determine the value of $X, if the interest rate is 30%.
and placing the focal date in month 20.
5. A person incurred a debt 8 months ago for $2,000,000 at 30% of
simple interest, due in 4 months. Furthermore, he must pay another
debt of $1,500,000 incurred 2 months ago, with 35% simple interest and
that expires in two months. If the interest rate is 32%. What payment
It must be done today to settle your debts, if you commit to pay $
1,000,000 within six months? Set the target date to today.
Mrs. Cárdenas owes Mr. Suárez $4,250,000 that she must pay.
in 3 months and $3,680,000 to be paid in 5 months. If the lady
Cárdenas wants to settle his debt right now, what amount should he pay?
pay if the interest rate is 2.3% monthly? Use zero period as
focal date.
7. Marco invested a total of $65,000,000 in two different banks, in the Bank
Pichincha invested part of the $65,000,000 in a savings account.
that pays liquidable yields at maturity for a term of 91 days and to a
