Simple Interest
The interest earned for a deposit of $210 at 8% for 7 years.
What is $117.60?
The account balance for a deposit of $1,030 at 4% compounded annually for 2 years.
What is $1,114.05?
The account balance for a deposit of $7,300 at 7% compounded annually for 3 years.
What is $8,942.81?
Nancy Williams borrowed $4,325 to buy furniture for her office. The loan was for 6 months at an simple interest rate of 9%. The amount of interest Nancy paid.
What is $194.63?
A student's parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made. What is the amount of interest earned on the account at the end of 15 years?
$3,637.5
The interest earned for a deposit of $34,000 at 4% for 3 years.
What is $4080?
The account balance for a deposit of $1,240 at 8% compounded annually for 2 years
What is $1,446.34?
The account balance for a deposit of $1,500 at 7% compounded annually for 3 years.
What is $1,837.56?
Mary borrowed $12,354 to buy a car. The loan was for 3 year at an simple interest rate of 7.5%. The amount of interest Mary paid.
What is $2,779.65?
Fernando put $1,287 into a savings account 8 years ago. The account earns 4% simple interest. He made no additional deposits or withdrawals. Based on this information, what is the balance in Larry's savings account at the end of the 8 years?
$1698.84
The interest earned for a deposit of $4,000 at 3% for 48 months.
What is $480?
The account balance for a deposit of $12,700 at 8.8% compounded annually for 12 months.
What is $13,817.60?
The account balance for a deposit of $18,000 at 9% compounded annually for 72 months.
What is $30,187.80?
Kayla deposits $4,000 into a bank account that earns 3% simple interest. If she makes no deposits or withdrawals. The amount of money in the account at the end of 4 years.
What is $4,480?
A business owner opens a new investment account with a $10,000 deposit. The investment account earns 2.5% interest, compounded annually. The business owner does not plan to make any deposits or withdrawals. How much interest will the investment earn at the end of the second year?
$506.25
The account balance for a deposit of $20,600 at 8% for 2 years.
What is $23,896?
The interest earned for a deposit of $28,600 at 7.9% compounded annually for 2 years.
What is $4,697.29?
The interest earned for a deposit of $55,000 at 16% compounded annually for 2 years
What is $19,008?
Larry invested $27,000 in a savings account that pays an annual interest rate of 1.8%. The savings account is set to compound annually. The account balance after 5 years.
What is $29,519.07?
Monica wants to open a savings account with a deposit of $3,000. Her bank offers two different savings accounts.
Account X pays 2.1% simple annual interest.
Account Y pays 2.4 % interest compounded annually.
Which account would she earn more interest and by how much?
Account Y: $62.70
The account balance for a deposit of $14,000 at 6% for 108 months.
What is $21,560?
The interest earned for a deposit of $130 at 9.4% compounded annually for 24 months.
What is $25.59?
The interest earned for a deposit of $21,000 at 13.6% compounded annually for 48 months.
What is $13,972.98?
You deposit $4500 at 5% annual interest compounded quarterly. The amount of interest that you will have earned after 120 months.
What is $2830.03?
Ben deposits $1,750 into each of two savings accounts.
Account I earns 2.75% annual simple interest.
Account II earns 2.75% interest compounded annually.
What is the amount of the difference between the interest Ben will earn in Account I and II at the end of 2 years?
$1.32