Finance, Algebra Problems

Vat Calculation

1. **Problem statement:** We are given the total cost of a pair of chinos including VAT as 750. 2. **Identify variables:** Let the net price (price before VAT) be $P$ and the VAT r

Discount Tax Netincome

1. **Kia's dress payment** - Original price: $114

Compound Interest Doubling

1. **Problem Statement:** Find the least number of complete years required for a sum of money to more than double when invested at 20% compound interest per annum. 2. **Define vari

Loan Amortization

1. **Stating the problem:** Mr. Afian borrows Tk. 60000 at 12% annual interest and wants to repay the loan in 20 equal annual installments starting at the end of the first year. We

Quarterly Loan Interest

1. **State the problem:** Calculate the quarterly interest payment and total interest for a loan of 25000 with an annual interest rate of 8%, paid quarterly over 6 years. 2. **Iden

Endowment Calculation

1. **Problem Statement:** We want to find the amount of money to donate now (the principal) so that the university can fund a $30,000 annual graduation party forever, starting in o

Simple Interest Banker

1. **State the problem:** We are given an initial investment of RM4200 on 15 January 2023, with a simple interest rate of 5% per annum. We need to find the amount of the investment

Simple Interest

1. **Problem a:** Ellen deposited money on 3 January 2020 and earned RM8,157.20 by 7 May 2020 at a 5.8% annual simple interest rate. Find the initial deposit. 2. Calculate the time

Deposit Withdrawal

1. **State the problem:** Cheryl wants to withdraw 34033 after 6 months from a bank account. The interest rate is 2.37% per annum and the tax on interest is 30%. We need to find ho

Daisy Investment Loan

1. Problem: Daisy invested 37000 AUD in a fixed deposit with 6.4% annual interest, compounded quarterly. (a) Calculate the value after 2 years.

Earnings Simple Interest

1. (b) (i) Problem: Calculate Ria's earnings for 40 hours at a rate of 13.50 per hour. Calculation: $$ 40 \times 13.50 = 540 $$

Car Loan Payment

1. **State the problem:** We need to find the monthly payment on a car loan of 18500, with an annual interest rate of 2.45%, over 8 years. Interest is compounded monthly. 2. **Ide

Annuity Withdrawals

1. Problem Statement: We have an ordinary annuity with an interest rate of 7.92% compounded monthly.