0
votes
4answers
29 views

what are the units for a rate of return?

My understanding of "rate" is more physics oriented. For example, distance/time is understandable for me and something I can explain. However, a rate of return: "The return, or rate of return, can ...
1
vote
2answers
49 views

Loan repayment calculations when interest compounding frequency does not match repayment frquency

Is there a formula for calculating loan repayments where interest is compounded daily, but repayments are made only monthly, for instance? I would like to be able to calculate the repayment amount ...
1
vote
2answers
45 views

How to find the rate of interest?

Q. The simple interest in 3 yrs and the compound interest in 2 yrs on the same principal and at the same rate are 1200 and 832 respectively. Calculate the rate. What I've done: SI in 3 years = ...
-1
votes
1answer
129 views

Paying less interest rate in credit card

I think I've found a way to pay off my credit cards faster, and therefore paying less interest rate. There's a Google Spreadsheet with my work at http://goo.gl/NqliZM My question What payment ...
2
votes
2answers
90 views

How to split the rent if two roommates live there from the beginning and a third one joins in the middle of the month?

I've been thinking over it and I can't figure it out. Consider the rent of the house is $X$. Now there are two roommates from the beginning and a third one joins in the middle of the month. Now ...
1
vote
2answers
251 views

Profit and Loss calculation: Fake currency

A store buys an item for $\$50$. They price it then, at $\$80$ ($\$30$ profit margin). A customer buys the item from them with a fake $\$100$ note. The store returns $\$20$ to the customer. My ...
7
votes
2answers
254 views

Significant digits

We use currency conversion rates for financial calculations. Our currency conversion table stores conversion rates to and from each currency (about 150 world currencies) for each day, going back 20 ...
0
votes
1answer
318 views

How to handle the following percentage scenarios?

I have the following scenarios, but I am unclear on how to handle them correctly. I start off with a value like 200 and the following scenarios are: Remove 10% from 200, and then remove a compound ...
0
votes
4answers
260 views

What is the difference between the 2 ways to remove percentages?

Given the value $690$, I want to remove $10$% from that and then remove another $20$% from the resulting value, so as an example, I am doing: $690 \over {(1 + 0.1 + 0.2})$ = $690 \over {1.3}$ = ...
0
votes
1answer
295 views

Figuring a loan payoff amount

I have a loan for a principal amount of \$117,000.00 at 9.75% interest and a total amount due (including the interest for 84 months) of \$191,805.60. I had 84 months to pay it off, or I could pay it ...
2
votes
1answer
4k views

Effective Annual Rate Calculation: Tricky periods and payout frequencies

For calculating the Effective Annual Rate (EAR) from various stated interest rates, I'm using the formula: $$EAR= \left(1+\frac{r}{p}\right)^{pt}-1$$ where, $p$ = no. of payouts in a period, $t$ = ...
1
vote
2answers
21k views

Calculate gross salary when knowing the net salary and tax brackets

Assume the annually gross salary is $100,000. Tax brackets: 0 - 50K - 10% = 5K in taxes 50K - 70K - 20% = 4K in taxes 70K - $90K - 30% = 6K in taxes 90K and up - 40% = 4K in taxes The income tax ...
1
vote
1answer
400 views

Determining tax percentage

I'm working a problem, attempting to find a income tax rate that will change depending on the gross paycheck amount. Some data points: $800 gross = 11% taxed $1500 gross = 16% taxed $2000 gross = ...
0
votes
1answer
197 views

I am not getting correct currency converstion

Please can someone kindly aid me with correct solution. The question ask: If EUR 100 were used to purchase British Pounds in Year 1, what would be their approximate value if they were kept for a ...
0
votes
1answer
74 views

Have I correctly used currency conversion

Please can you help me with this question? I think I have the right answer but I want to make sure. The question asks: JPY 1,000 in Year 1 is worth how many US dollars in Year 1? Assume Value ...
1
vote
2answers
168 views

how seconds per year does the average worker work?

Approximately how many seconds per year does the average 18 – 21 year women factory worker work? Choices are... A] 2,526 B] 80208 C] 5700 D] 3,443 E] 3958 assuming Accident per person per year is ...
1
vote
1answer
303 views

not getting the right proportion

I got this answer wrong. I thought it was 55% but it seems the answer is different. Please can you have a look at this and tell me where have I gone wrong and it should be. Thanks in advance. Q) ...
0
votes
0answers
367 views

best revenue to Costs ratio

Would you say for best revenue to costs ratio would be D as cost is 0.4. Thanks in advance for your help. A) 109 (Sales Revenue) : 141 (Cost) = 0.77 B) 533 (Sales Revenue) : 307.92 (Cost) = 1.73 ...
0
votes
1answer
47 views

Do I need to calculate the payments of revenue earned as well, for present value?

A service bureau is considering renting a computer for $24$ months at $\$15,000$ per month. The first $11$ months will be required to test software for the particular application to be offered by ...
2
votes
6answers
725 views

How to solve this problem without the assistance of a calculator in under 3 minutes?

I have 3 minutes to solve questions like these: Someone invested $\$2,000$ in a fund with an interest rate of $1\%$ a month for $24$ months. Consider it to be compounded interest. What will be the ...