1.
Find the interest earned if $580 is placed in a savings account at 4.8% simple interest for
years.
A.
$14.50
B.
$69.60
C.
$48.72
D.
$27.84
Hint
2.
If you invest $1200 in an account that pays 13.2% simple interest, what is the balance of the account after 4 years?
A.
$5433.60
B.
$1358.40
C.
$1833.60
D.
$633.60
Hint
3.
An appliance store will sell televisions on credit with no payment due for 1 year from the date of purchase. What is the total cost of a $599 television after 1 year if the store charges 22.5% simple interest and no payments are made?
A.
$772.91
B.
$134.78
C.
$464.23
D.
$733.78
Hint
4.
Find the interest earned if you place $76.43 into an account that pays 21.5% simple interest, and leave it in for 3 months.
A.
$49.30
B.
$23.22
C.
$4.11
D.
$278.59
Hint
5.
If you take out a loan for $550 at 7.2% simple interest and make no payments for 6 months, how much do you owe total?
A.
$294.80
B.
$946.00
C.
$569.80
D.
$589.60
Hint