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1. |
Find the interest earned if $278.50 is placed in a savings account at 9.5% simple interest for 3 years. |
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A. |
$90.34 |
B. |
$79.37 |
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C. |
$26.46 |
D. |
$28.50 |
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Hint |
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2. |
If you invest $7,593 in an account that pays 5.6% simple interest, and you leave all of the money in the account, what is the balance of the account after 7 years? |
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A. |
$8,018.21 |
B. |
$10,569.46 |
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C. |
$56,127.46 |
D. |
$531.51 |
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Hint |
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3. |
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. |
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A. |
$4.11 |
B. |
$49.30 |
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C. |
$278.59 |
D. |
$23.22 |
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Hint |
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4. |
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? |
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A. |
$589.60 |
B. |
$946.00 |
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C. |
$569.80 |
D. |
$294.80 |
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Hint |
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5. |
If you buy a necklace for $400 on your credit card, which charges 21.3% simple interest, how much interest will be added after 15 months? |
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A. |
$85.20 |
B. |
$100.00 |
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C. |
$106.50 |
D. |
$266.25 |
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Hint |
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