simple interest 1
What is the formula for simple interest?
A=Prt + P
How much interest is owed on 5,000 dollars is borrowed for 1 year at 5%?
250
A bank offering 2.5% simple interest on a savings account. If you deposit 5,000 dollars, how much money will you have at the end of one year?
5125
How much simple interest is owed on 2,000 dollars if borrowed for 7 years at 6%?
840
How much money did I invest if 10 years later I have 37 000 and the interest rate was 103%
3274.34
An initial deposit of 5,000.00 dollars is made into a savings account that yields 7.1% interest annually. How much is in the account at the end of 5 years?
6775
Thomas loaned Brian $3,400 at a simple interest rate of 12% for 8 years. How much did Brian pay back to Thomas?
3726.4
If you borrowed 675 dollars for six years at a simple interest at 10%, how much interest will you pay?
405
How much money would you have to invest to earn 131.60 dollars in interest at simple interest rate of 4% for seven years?
36.848
To buy a laptop computer, Elaine borrowed $2,000 for 3 years at an annual simple interest rate of 5%. How much interest will she pay if she pays the entire loan off at the end of the third year?
300
Kindle loaned Marissa $20,000 to buy a car at a simple interest rate of 3.1% for 5 years. How much does Marissa owe Kindle?
23,100
Debbie borrows 1,000,000 dollars for real estate development and makes annual interest only payment for three years at a rate of 7.5% per year. What is her total interest payment over the three year period?
225,000
Kelley puts 350 dollars in a savings account. The savings account accrues interest at a flat rate of 1.05% a month. How much will account be worth in 7 months?
357.14
What is the difference between simple interest and compound interest?
Simple Interest: Fixed rate on Principle over time
Compound Interest: Fixed rate on [Principle plus Interest earned] on a periodic time frame (weekly, monthly, annually, etc)
Marlena saved 50 dollars in an account earning 3.5% simple interest. How many years would it take her to have 85$
20
Aaron deposits 10,000 dollars at 4% interest for 45 years. How much will he earn?
18,000
Lilly makes regular deposits to a savings account to save money for retirement. She deposits 60,000 dollars at 7.8% for 12 years. Whats the account worth now?
116,160
Pat can get a student loan of $10,000 for 10 years at an interest rate of 7%. How much will her total payback to the bank be at the end of the loan?
$17,000
Gina deposits 150 dollars at the start of each year into college savings account that pays 4% simple interest at the end of each year. She does not deposit the interest she earns each year. How much total money on only interest will Gina earn on her deposits through the end of the fifth year?
30
What do you call a grumpy cow?
MOOOOOOdy
What is the interest rate of my account in percent if I started with 10 000 dollars and after 8 years now I have 13 000
3.75%