An account earns annual simple interest. Find the interest earned, principle, interest rate, or time for each problem.
Question 1
1.
Interest earned: $3250
Principle: $5000
Rate: _________
Time: 10 years
Question 2
2.
Type your answer for #1
Question 3
3.
Interest earned: $39.60
Principle: __________
Rate: 11%
Time: 6 months
Question 4
4.
Type your answer for #3
Question 5
5.
You deposit $200 in an account earning 5% simple interest. Compute the simple interest earned after 4 years.
Question 6
6.
Type your answer for #5
Question 7
7.
Based on your answer for #5, what is your new account balance after the 4 years?
Question 8
8.
Type your answer for #7
Question 9
9.
If a loan is taken our for $373 at 10% and costs $186.50, how long was the loan for?
Question 10
10.
Type your answer for #9
Question 11
11.
What will the final balance be for $611 invested at 7% for 6 years?
Question 12
12.
Type your answer for #11
Question 13
13.
You borrow $2000 from the bank to buy a new computer. The bank offers you a 12 month loan at a rate of 10% simple interest. Compute the simple interest that you will pay on the loan.
Question 14
14.
Type your answer for #13
Question 15
15.
Based on your answer to #13, what is the total amount of money that you paid for the computer?
Question 16
16.
Type your answer for #15
Question 17
17.
Find the interest on a loan of $2500 that is borrowed at 9% for 7 months.
Question 18
18.
Type your answer for #17
Question 19
19.
Based on your answer for #17, how much would it cost to repay the loan?