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Chapter 9

Chapter Review

Chapter Review


This activity contains 10 questions.

	Interest is: __________.   a return to cover the risk on his investment a penalty for having to lend rålated to supply and demand of time the whole amount owed by the borrower

	35 39 26 36

	77 62 78 49

	P = $2,000 R = 10% T = 60 days I = _____ (use ordinary interest)   $328.77 $32.88 $333.33 $33.33

	P = $5,500 R = 9 ½% T = 30 days I = __________ (use exact interest)   $44.54 $43.54 $522.50 $42.95

	P = $9,500 R = ________ T = 45 days I = $83.12 (use ordinary interest)   8% 7% 10% 5 1/2 %

	P = $10,750 R = 17 % T = _________ I = $300.41 (use exact interest)   120 days 90 days 150 days 60 days

	P = ________ R = 11 % T = 180 days I = $1,369.73 (use ordinary interest)   $27,120.65 $12,452.09 $25,250.07 $24,904.18

	P = $22,470 R = ________ T = 15 days I = $121.71 (use ordinary interest)   6 1/2 % 13% 3 1/4 9%

	P = $55,800 R = ________ T = 40 days I = $550.36 (use exact interest)   6 1/2% 13% 3 1/4 9%

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