Faculty of Commerce Year: 1 Financial Accounting 2
May 2020
Time: Three Hours - Date: 31/5/2020
)The questions start with a number: (7
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7 امتحانك هيبدا من رقم
7- A person deposits $3000 in a bank that pays 12% interest. Determine how many days the
amount of deposit remains if the interest earned is $75?
o 75 days
8- A woman borrowed a certain amount from a bank that charges 18% interest. One hundred
days later she paid $150 as an interest on the loan. How much the capital was?
o $3000
9- A man deposited $2000 at a bank that pays 12%, how much the balance after 6 months?
o $2120
10- A woman got a loan at 8% semiannual rate of interest. Nine months later she paid $4480.
Find out the principle?
o $4000
11- A merchant sells a certain commodity for $1600 cash, or $2000 due in a year.
The interest rate the merchant using in this deal is?
o 25%
12- A refrigerator is sold for $3600 cash or $4000 due in 9 months. If money is worth 12%
which offer is better for the buyer?
o The first
13- Compute the simple discount on a debt of $2000 due in 6 months if the interest rate is 12%
o $113.21
14- A debt of $3000 is due in a year. The lender offers a simple discount of $72 upon the
payment of such a debt 3 months before maturity. Find the interest rate?
o 9.8%
15- A debt of a certain amount is due after 15 months. Nine months before its due date, the
debtor offers to pay it off and the lender agrees on the basis of 12% interest rate. The
simple discount to $165.14, find the maturity value of the det?
o $2000
16- An obligation of $2400 is due on July 11, 2019. The obligation was discounted at a bank on
February 11, 2019 and the proceeds were $2220. Determine the discount rate?
o 18%
17- A debt is due a year from today. The debt was discounted at a bank that charges 16%
discount rate, and the creditor got $3024. Find the maturity value of the debt?
o $3600
18- Find the accumulated value of an ordinary simple annuity consisting of 4 quarterly
payments of $250 each if money is worth 12% per annum.
o $1045
19- A couple deposits $500 at the end of every 3 months into a saving account that pays
interest at interest rate of 11%. They made the first deposit on March 1, 2012. How much
money will they have in the account just after they make their deposit on September 1,
2015?
o $8347.5
20- A man deposits annuity every beginning of 3 month with interest rate of 14%m after two
years he found his balance was $1389. What his periodical deposit was?
o $150
21- An ordinary annuity payable $150 semiannual for 3 years, it accumulated $990. What the
interest was?
o 8%
22- Find the compound amounts of $2500, invested at 6% converted quarterly for 5 years.
o $3367.14
23- A bank pays 7.8% compound quarterly on savings accounts. A woman puts $5000 into such
account on July 1, 2013. Find the amount in the account on January 1, 2018?
o $7078.48
24- A depositor planned to leave $2000 in a savings and loan association paying 5%
compounded semiannually for a period of 5 years. At the end of 2½ years the depositor
had to withdraw $1000. What amount will be in the account at the end of the original 5-
year period?
o $1428.76
25- Find the present value of $5000 due in 4 years if money is worth 8% compounded
semiannually.
o $3653.45
26- Find the present value of $7500 due in 4 years if money is worth 14% compounded
monthly.
o $4297.98
27- A note of $2000 due in 4 months is discounted at a bank that charges 12% discount rate.
Find the bank discount?
o $80
28- A note with a maturity value of $1000 is due in 3 years and 8 months. What is its present
value at 6% compounded semiannually?
o 805.04
29- A person receives $300 each 3 months from an investment that pays a quarterly rate of
interest of 3%, how much he invested?
o $10000
30- A man wants to accumulate a fund. He deposits $300 on February 1, 2017, and his plan
calls for the deposit to be accumulated on February 1, 2018. In a bank, that pays 10% per
annum. Find the size of the deposit if he makes the deposits at the end of every 2 months?
o $1875
31- In question 30, Find the size of the deposit if he makes the deposits at the beginning of
every 2 months?
o $1905
32- A deposit of $2000 was made on January 1st 2019 at a bank that gives 10.5% per annum.
How much interest will be credited to this account on June 30th 2019?
o $105
33- In question 32, if the interest rate was 5.25% quarterly. How much interest will be
credited to this account?
o $210
34- In question 32, how much interest will be credited to this account on December 31st
2019?
o $210
35 - In question 32, how much amount will be credited to this account?
o $2105
36- In question 32, how much amount will be credited to this account on Dec 31st 2019?
o $2210
37- On October 3st, 2018, a merchant borrowed $1200 at 15%. The loan was repaid on
March14th, 2019. The exact interest due on that date was?
o $79.89
38-In question 37, the ordinary interest due on that date was?
o $81
39-The exact interest on 90-day loan of $2000, if the interest rate is 8% semiannually will be?
o $78.9
40-In question 39, the ordinary interest will be?
o $80
41- A man deposits $1000 in a bank that pays an interest rate of 5% semiannually. How much
interest the man will receive after two years?
o $200
42- In question 41, if the interest rate was 10% annually. How much his balance account will be
in the bank?
o $1200
43- In question 41, if the interest rate was 2.5% quarterly. How much interest the man will
receive?
o $200
44- In question 41, how much the man will get if he wants to withdraw his balance after three
months?
o $1025
45- In question 41, if the deposit was $2000. How much interest the man will receive?
o $400
46- How long will it take an amount to double if invested at 10% semiannually?
o 5 years
47-In question 46, if the interest rate is 20% annually, how long will it take?
o 5 years
48- A certain item is sold for $1000 cash. If the interest rate is 16%, how much a buyer
should pay for it if such a payment made 6 months from now?
o $1080
49-In question 48, how much will the payment be if it made a year from now?
o $1160
50- How long will it takes a principal to earn interest one-half its value, if the interest rate was
20%?
o 2.5 years
51-In question 50, how long it will take if we want the interest to be equal the principal?
o 5 years
52-In question 50, how long will the period be if the interest rate was 4%?
o 12.5 years
53-In question 50, how long will it takes if we want the interest to be one-fifth of the principal?
o one year
54-In question 50, how long will the period be if the interest rate was 10%?
o 5 years
55- Mr. Simpson deposits $525 every 3 month for 4 years with simple interest rate 15% annum
find his balance, If the deposit made at the end of the period?
o $10762.5
56-In question 55, find his balance If the deposit made at the beginning of the period?
o $11077.6
57- An annuity its periodic deposit $300 payable each 3 month for 2 years with discount rate
9%annually calculate the present value of the annuity if it is ordinary one?
o $2157
58-In question 57, calculate the present value of the annuity if it is due one?
o $2211
59-The interest paid on a loan of $4000 for 3 months was $120. Find out the semiannual
interest rate?
o 6%
60-In question 59, the interest rate that pays quarterly will be?
o 3%
61-In question 59, the interest rate that pays annually will be?
o 12%
62-In question 59, if the loan was $8000 how much the interest rate that pays quarterly will
be?
o 1.5%
63- A principal of $1000 is deposited at 6% for 10 years. What will be the compound interest if
the interest is compounded annually?
o $790.85
64- In question 63, compute the amount if the interest is compounded annually?
o $1790.85
65- In question 63, if the interest compounded semiannually, compute the compound interest
if the interest rate is compounded semiannually?
o $806.11
66- In question 63, compute the amount if the interest is compounded semiannually?
o $1806.85
