1.
Find the Simple Interest I=Prt for the following information:
* Principal: $6000
*Interest rate: 5%
*Time: 6 months
A
$150
B
$1500
C
$6065
2.
Find the interest rate: (r = I/Pt)
* Principal: $500
* Interest Earned: $60
*Time: 3 years
A
.4%
B
4%
C
40%
3.
Find the principal amount: (P = I/rt)
*Interest rate: 16%
*Interest Earned: $18
*Time: 3 months
A
$450
B
$375
C
$37.5
4.
Find the time in months: (t = I/Pr)
*Principal: $1000
*Interest Earned: $8.75
* Interest rate: 3.5%
A
3 months
B
2.5 months
C
3.5 months
5.
Find the simple interest: I = Prt
* Principal: $1750
* Interest Rate: 2.4%
* Time: 9 months
A
$378
B
$31.50
C
$315
6.
Find the Principal amount: (P = I/rt)
* Interest rate: 4%
* Interest Earned: $784
* Time: 20 years
A
$ 98
B
$ 9.8
C
$ 980
7.
Find the TIME in years: ( t = I/Pr )
* Principal: $80
* Interest Earned: $52
* Interest Rate: 13%
A
4 years
B
5 years
C
6 years
8.
Find the Simple Interest: I = Prt
*Principal: $960
*Interest Rate: 9%
*Time: 9 months
A
$6.48
B
$64.80
C
$77.76
9.
If Michael invests $2000 in the bank at a rate of 5.5% for 6 years how much interest will he make?]
A
66
B
6.6
C
660
10.
Kelsey takes out a loan for $6000 to start a business after high school. The bank charges her 8% interest for the loan. After 5 years how much interest will be added on to the loan?
A
2640
B
264
C
2.64
11.
Jessie invests $3345 in the stock market. Over the 3 years she has this invested she gets an average return of 7.8%. How much will her investment be worth after the 3 years?
A
782.73
B
7827.30
C
2348.19
12.
Scott takes out a student loan to go to college after high school. If he pays $750 in interest at a rate of 3% per year, how much must the loan have been for originally?
A
2500
B
25000
C
22.50
13.
Taylor has just won $4,250 from the 50/50 at the Sea Dog's game and decides to invest all of it. If he makes $1275 with a 5% interest rate, how long must he have had the money invested
A
6
B
7
C
8
14.
At what rate would you need to invest $12000 and make $2880 after 8 years
A
8%
B
5%
C
3%
15.
What will the total value of an investment of $5000 be if it has an interest rate of 7% and is invested for 20 years?
A
7000
B
12000
C
2000
16.
Morgan has an investment worth $130,000 dollars after 20 years. If his original investment was for $50,000 what must the interest rate have been?
A
8%
B
9%
C
10%
17.
Horatio is saving money for college. He deposits $1,500 in a savings account that earns 6.5% simple interest per year. How much more will Horatio have at the end of 5 years than at the end of 2 years?
A
487.5
B
195
C
292.5
18.
Aryan is saving money for a down payment on a car. He deposits $1,200 in a savings account that earns 5% simple interest per year. How much more will Aryan have at the end of 4 years than at the end of 2 years?
A
240
B
120
C
360
19.
Gwyneth is saving money for a vacation. She earns 2.5% simple interest per year on a deposit of $300. How much more will Gwyneth have at the end of 1 year than at the end of 6 months?
A
3.75
B
7.5
C
11.25
20.
Jalisa borrows $2,500 to buy a new computer. The simple interest rate on the loan is 3.5% per year. How much less will Jalisa pay if she pays the loan off in 2 years rather than in 3 years?
