simple interest
What is the formula for simple interest?
SI=PrT
Find the simple interest paid
Principal $300 rate 6% time 4 years
72
Calculate how long it will take for the following amounts of interest to
be earned at the given rate.
P = $500 r = 6% SI = $150
5
A bank offering 2.5% simple interest on a savings account. If you deposit 5,000 dollars, how much interest will you earn in one year?
125
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
If you borrowed 675 dollars for six years at a simple interest at 10%, how much interest will you pay?
405
Calculate the rate of interest per year which will earn the given amountof interest:
Principal $400 time 4 years interest $112
7
Calculate the principal which will earn the interest below in the givennumber of years at the given rate: SI = $36 time = 3 years rate = 6%
200
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
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?
25.725
Thomas loaned Brian $3,400 at a simple interest rate of 12% for 8 years. How much did Brian owe Thomas?
3264
What rate of interest is paid on a deposit of $2000 which earns $400
interest in 5 years?
4%
How long will it take a principal of $350 to earn $56 interest at 8% per year?
2
A principal of $480 earns $108 interest in 5 years. What rate of interest
was being paid?
4.5
A principal of $750 becomes a total of $1320 in 8 years. What rate of
interest was being paid?
9.5
$1500 is invested for 6 years at 3.5% per year. What is the interest earned?
315
$500 is invested for 11 years and becomes $830 in total. What rate of
interest was being paid?
6%
When is Mr Nathan's Birthday?
20th November
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