Interest - answers
1. How many actual interest days there are when the interest period is
a) 17.2. - 11.9.
b) 15.3. - 15.9.
a) From February, 11 + 31 + 30 + 31 + 30 + 31 + 31 + 11 = 206 days
b) From March 16 + 30 + 31 + 30 + 31 + 31 + 15 = 184 days
2. What is the interest in euros on a deposit of 6380 € if the interest rate on the account is 2,75% and the deposit period is 31.12. - 30.6.?
3. How large will the deposit of 25 000 € increase in a year when the interest rate is 5,0%?
4. An account with an interest rate of 1,70% will be deposited for € 150 per year.
a) Calculate how much interest is paid on the deposit.
b) How much can be withdrawn from the account after one year?
5. See the expression below
1000 · 0,027 · 1/4
Which of the following statements is correct?
A) 1000 € has been deposited into the account for four months.
B) 1000 € has been deposited into the account for one month.
C) The interest rate on the account is 0,27%
D) The interest rate on the account is 2.7%
6. See the expression below
500 · 0,045 · 1/5
Which of the following statements is correct?
A) The deposit is made for 73 days.
B) The deposit is made for five months.
C) The deposit is made for 146 days.
D) The deposit is made for 45 days.
7. The payday loan company advertises that it is borrowing 2500 € at a low interest rate of 9,55%. How much interest you have to pay if the loan period is
a) year?
b) half a year?
c) a month?
