1. Determine the annual simple interest rate at which $8500 grows to $10200 in 4 years.
2. Determine the time required for an amount of money to treble if it is deposited in a bank at a simple interest rate of 10% p.a.
3. Janet deposited $8000 in a bank at 5 p.a., compounded half-yearly
Find ...
(a) the interest rate per half-year,
(b) the amount for 3 years,
(c) the compound interest for 3 years.
4. A certain kind of bacteria grows steadily at a rate of 60% every 10
minutes. If there are 250 bacteria initially, find the number of bacteria after 1 hour.
5. A photocopier is bought for $15000 and its value depreciates by 16% in the first year and 9.5% in each subsequent year. Find its value at the end of the third year ( correct to the nearest dollar).
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