📘 finance

1. **State the problem:** Bradley takes out a loan of 700 pounds with compound interest at 24% per year. We need to find how much he owes after 12 years. 2. **Formula for compound

1. **State the problem:** You have a gross amount of 1708 and a tax rate of 13.5%. You want to find the net amount (amount before tax) and the tax paid. 2. **Formula used:**

1. The problem asks: How much did I pay in tax? 2. To find the tax paid, we need to know the total amount paid and the tax rate or the pre-tax amount and the tax rate.

1. The problem states that the gross figure is 1708. 2. "Gross figure" typically refers to the total amount before any deductions or adjustments.

1. **State the problem:** Joe deposits 10 initially and 10 more at the start of each month into a bank account paying 2% compound interest monthly. We want to find the compound int

1. **Problem statement:** Calculate the future value for each investment given the present value, interest rate, time, and compounding frequency. 2. **Formula:** The future value $

1. The problem is to calculate the tax payable based on income brackets and tax rates. 2. The tax brackets and rates are:

1. **State the problem:** Juliana invested 3450 at 5.25% per annum simple interest. We need to find how many days it takes for the investment to grow to 3580. 2. **Formula for simp

1. **State the problem:** Calculate the effective annual interest rate for a loan with a nominal interest rate of 6.00% compounded semi-annually. 2. **Formula:** The effective annu

1. **State the problem:** We need to find the purchase price (present value) of a GIC with a maturity value of 32531, an interest rate of 4.47% compounded quarterly, over 4 years a

1. **Problem statement:** You want to find the annual income you can withdraw from your retirement savings over 23 years, given your total savings at retirement is $936264.0545 and

1. **State the problem:** Laura loaned 65000 at an interest rate of 5.98% compounded semi-annually for 1 year and 3 months. We need to find the amount to be repaid at the end of th

1. **State the problem:** Joseph loaned 3750 to Kelsey at a simple interest rate of 3.68% per annum for 2 years and 8 months. We need to calculate the interest charged at the end o

1. **State the problem:** We need to find Mark's average daily balance based on the billing cycle and transactions. 2. **Formula and explanation:** The average daily balance is cal

1. **State the problem:** We need to solve the compound continuous interest formula given by $$V = 12000e^{0.65 \times 10}$$ where 12000 is the principal amount, 0.65 is the intere

1. **State the problem:** Calculate the effective interest rate of a $25,000 non-interest-bearing, simple discount note with a 10% discount rate over 90 days.

1. **State the problem:** Calculate the effective rate of a $25,000 non-interest-bearing, simple discount, 10 percent, 90-day note.

1. **State the problem:** We want to find the balance of a savings plan after 18 months with monthly payments of 250 and a given APR (annual percentage rate). We also want to find

1. **Problem Statement:** You have won 50000 and want to invest it for 30 years.

1. **State the problem:** We need to find the future value of a $9000 investment with an annual interest rate of 4.67%, compounded semi-annually, over 11 years. 2. **Formula used:*

1. **Problem Statement:** Tricia Velasquez wants to decide whether to approve a $30,000 order with credit terms net 45 days, opportunity cost 12%, variable costs 65% of sales, and