1. If you borrow money from your friend with simple interest of 12%. Find the present worth of 20,000 which is due at the end of nine months?
2. A Loan of 10,000 is made for a period of (m) months at simple interest of 20%. If the future amount is due at the end of the load period is 4,166. Determine the (m) ?
3. The investmest made by John proved most remunerative. His 1,000,000 savings doubled at 2% per 6 months after (n) years. Determine the (n) ?
4. An investors holds a time payment purchase contact on some machine tools. The contact calls for the payments of 6,800 at the end of each month a 5 years period. The 1st payment is due in one month. He offers to sell you the contact for 330,680 cash today. If you otherwise can make 1% per month on your money, would you accept or reject the investors office?
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