Simple Interest 1
Find the simple interest paid
Principal $300 rate 6% time 4 years
72
What is the formula for simple interest?
I=Pin
An initial deposit of 5,000.00 dollars is made into a savings account pays 7.1% interest annually. How much is in the account at the end of 5 years?
$6775
After 80 years of 5.8% interest compounded monthly, an account has 102,393.44 dollars. What was the original deposit amount?
457,106
When is Mr Case's Birthday?
31st August
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
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 interest will Gina earn on her deposits through the end of the fifth year?
30
You will always find me in the past. I can be created in the present, But the future can never taint me. What am I?
History
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
Thomas loaned Brian $3,400 at a simple interest rate of 12% for 8 years. How much did Brian owe Thomas?
3264
$1500 is invested for 6 years at 3.5% per year. What is the interest earned?
315
If you borrowed 675 dollars for six years at a simple interest at 10%, how much interest will you pay?
405
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?
25.725