10/13 Simple Interest Practice

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Solve for 'z' in the equation.

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Solve for r in the equation I=prt

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Draggable item		Corresponding Item
Time		The amount earned or the amount charged
Rate		The amount borrowed or deposited
Interest		In years (if months, need to figure out fractional part of a year)
Principal		Percent at which the interest is charged

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An investment earns 4.5% simple interest per year. If $2400 is invested, what is the total amount that can be withdrawn when the account is closed out after 2 years?

1

A savings account is set up so that the simple interest earned on the investment is moved into a separate account at the end of each year. If an investment of $2,000 accumulate $360 of interest in the account after 4 years, what was the annual simple interest rate on the savings account? ( Remember rate is a percentage)

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Sylvia bought a 6-month $1900 certificate of deposit. At the end of half a year, she received a $209 simple interest. What rate of interest did the certificate pay? (Answer is in percentage)

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Tia saved $9,000 for 2 years at 4% APR in a CD, to go on a month long vacation with her family. How much did she earn in interest?

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Part A: To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay after there years?  _______ 

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How long would it take to earn $2064 of simple interest at a 6% rate if I started with $4300?

1

Solve for 'z' in the equation.

Solve for r in the equation I=prt

An investment earns 4.5% simple interest per year. If $2400 is invested, what is the total amount that can be withdrawn when the account is closed out after 2 years?

Sylvia bought a 6-month $1900 certificate of deposit. At the end of half a year, she received a $209 simple interest. What rate of interest did the certificate pay? (Answer is in percentage)

Tia saved $9,000 for 2 years at 4% APR in a CD, to go on a month long vacation with her family. How much did she earn in interest?

How long would it take to earn $2064 of simple interest at a 6% rate if I started with $4300?

Find the principal of a simple interest loan if interest is $831.25, the rate is 5%, and time is 91/2 years.