Simple Interest
You get a student loan from the New Mexico Educational Assistance Foundation to pay for your educational expenses this year. Find the interest on the loan if you borrowed $2,000 at 8% for 1 year.
$160
Alexander invested $320 in an account paying an interest rate of 1.5% compounded annually. Assuming no deposits or withdrawals are made, how much money would be in the account after 18 years? Round to the nearest cent (hundredths place).
$418.35
The cost of tuition and fees at the college Luis wants to attend is $16,500 per year. His parents will give him $4,800 for his first year of tuition and fees. Luis plans to save money each month for the next 4 years. What is the minimum amount of money Luis must save to have enough money to pay for his first year of college?
$243.75
−40=-5x-25
To the nearest tenth, what is the square root of 33?
5.7
You are starting your own small business in Albuquerque. You borrow $10,000 from the bank at a 9% rate for 60 months. Find the total amount you will have to pay back.
$14,500
Lucy invested $19,000 in an account paying an interest rate of 3% compounded annually. Assuming no deposits or withdrawals are made, how much money would be in the account after 8 years? Round to the nearest cent (hundredths place).
$24,068.63
Lana is a high school senior who plans to go to college. She was accepted at a four-year university and was offered a scholarship of $12,500 per year. The expenses per year at this university are shown in the below.
-Tuition & Fees: $11,900
-Room & Board: $8,760
-Books & Materials: $985
-Transportation & Other: $695
How much will it cost for Lana to attend this university for one years including her scholarship?
$9,840
3b-39=-78
B=-13
The area of a square tile is 50 square centimeters. To the nearest tenth of a centimeter, how long is one side of this tile?
7.1
Cosmo opened an account with a deposit of $11,500. The account earned annual simple interest. At the end of 10 years, the account balance was $18,975. What is the annual interest rate on this account as a percent?
6.5%
Brody invested $2200 in an account paying an interest rate of 3.6% compounded annually. Assuming no deposits or withdrawals are made, how much money would be in the account after 18 months? Round to the nearest cent (hundredths place).
$2,319.86
The cost of tuition and fees at the college Tom wants to attend is $32,800 per year. His parents will pay 75% of the cost of tuition and fees every year, and he will have to pay for the rest. Tom has one year to save enough money to attend his first year of college. What is the minimum amount of money he should save every month in order to reach his goal? Round to the nearest cent (hundredths place).
$683.33
13 − 4x = 1 − x
A square place mat has an area of 169 square inches. Sally decides to decorate the place mat by putting fringe around the edges. How many inches of fringe will Sally need for the perimeter of the place mat?
52
You are tired at the end of the term and decide to borrow $500 to go on a trip to Whatever Land. You go to the bank and borrow the money at 9½ % for 2 years. Find the interest.
$95
Macy invested $240 in an account paying an interest rate of 2.3% compounded annually. Assuming no deposits or withdrawals are made, how much interest would the account earn in 9 years? Round to the nearest cent (hundredths place).
$54.50
Carly is a high school senior who plans to go to college. She was accepted at a four-year university and was offered a scholarship of $15,750 per year. The expenses per year at this university are shown in the below.
-Tuition & Fees: $18,400
-Room & Board: $8,760
-Books & Materials: $905
-Transportation & Other: $815
How much will it cost for Carly to attend this university for four years including her scholarship?
$13,130
6r + 7 = 13 + 7r
R=-6
Julianna deposits $4,750 into each of two savings accounts.
Julianna does not make any additional deposits or withdrawals. If both accounts are open for 36 months, which account will earn more interest during that time and by how much? Round to the nearest cent (hundredths place).
Account II will earn $1.89 more.
Principal= $12,500
Rate= 3½ % simple interest
Time= 54 months
$1,968.75
Serenity invested $16,500 in an account paying an interest rate of 4.5% compounded annually. Assuming no deposits or withdrawals are made, how much interest would the account earn in 48 months? Round to the nearest cent (hundredths place).
$3,176.56
The cost of tuition and fees at the college Shea wants to attend is $13,200 per year. Her parents will pay 45% of the cost of tuition and fees every year, and she will have to pay for the rest. Shea has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?
$605
38 + 7k = 8(k + 4)
K=6
Gabby deposits $3,000 into each of two savings accounts.
Gabby does not make any additional deposits or withdrawals.
What is the sum of the balances of Account I and Account II at the end of 5 years? Round to the nearest cent (hundredths place).
$7,982.69