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Lesson 20 Session 2 Practice

Last updated about 3 years ago

4 questions

1

Question 1

1.

Suppose you deposit $1200 into a bank account. The account earns yearly simple interest at a rate of 1.75%. How many years will it take to earn a total of $126 in simple interest?

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Question 2

2.

Conan borrows $3000 at a yearly simple interest rate of 1.6% for 2 years. How much money does he owe in interest?

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1

Question 3

3.

Jamila deposits $800 in an account that earns yearly simple interest at a rate of 2.65%. How much money is in the account after 3 years and 9 months? (hint.. 3 years and 9 months=3.75 years)

Question 4

4.

Carmella borrows $400 and will pay 5.25% yearly simple interest. How much more interest will Carmela owe if she borrows the money for 4 years instead of 2 years.