Show Some Interest
Grandma lends you $400 at a simple interest rate of 5% per year. If you pay her back in 2 years, how much interest do you owe her?
$40
You put $500 into a high-yield account paying 6% simple interest per year. What is your total balance at the end of 1 year?
$530
An investment earned $60 in simple interest over 2 years at an annual rate of 5%. How much principal was originally invested?
$600
An initial deposit of $500 earned $25 in simple interest over 1 year. What was the annual interest rate?
5%
How many years will it take for a $500 deposit earning 4% annual simple interest to accumulate $40 in interest?
2 years
You deposit $900 in a savings account earning 4% annual simple interest. How much interest will you accumulate after 6 months?
$18
If you borrow $750 from a friend at 8% simple interest for 3 years, what total amount must you repay in full?
$930
How much principal must be deposited into an account earning 8% annual simple interest to earn $192 in interest over 3 years?
$800
You borrowed $800 and paid $96 in simple interest over a period of 2 years. What annual interest rate were you charged?
6%
You borrow $1,000 at 7% annual simple interest and pay $350 total in interest. How long was the loan term (in years)?
5 years
A loan of $1,500 is taken out at a simple interest rate of 6.5% per year for 4 years. Calculate the interest charged.
An investor deposits $2,000 at 4.5% annual simple interest. What will the account's total balance be after 6 months?
$2,045
A short-term loan charged $45 in interest after 6 months at an annual simple interest rate of 6%. What was the original amount borrowed?
$1,500
An investment of $1,200 earned $144 in simple interest over 18 months. What was the annual simple interest rate?
8%
An investment of $1,600 at 5% annual simple interest earned $120 in interest. For how many months was the money invested?
18 months
You purchase a gaming computer using a store credit offer of $800 at 9.5% annual simple interest. If you pay off the computer in 18 months, how much interest do you pay?
$114
You finance a $1,200 sofa at 10% simple interest over a period of 30 months. What is the total cost (principal plus interest)?
$1,500
If you paid $105 in interest on a 42-month loan with a 6% annual simple interest rate, how much did you borrow?
$500
You took out a loan for $2,000 and paid back a total amount of $2,420 after 3 years. What was the annual simple interest rate?
7%
You invested $2,500 at 8% annual simple interest. When you closed the account, your final balance was $3,100. How many years was the money invested?
3 years
A small business owner borrows $6,400 at a simple interest rate of 5.25% per year. How much interest accumulates over 42 months?
$1,176
A used car loan for $5,000 carries a simple interest rate of 7.2% per year for 54 months. What total amount will be repaid by the end of the term?
$6,620
A savings account reached a total balance of $2,360 after 3 years at a simple interest rate of 6% per year. What was the initial starting deposit?
$2,000
A borrower took out a loan for $4,000 and repaid a total of $4,910 at the end of 42 months. What was the annual simple interest rate?
6.5%
A personal loan of $3,200 at 6.25% annual simple interest required a total repayment of $3,900. For how many months was the loan taken out?
42 months