

1. 
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. 
$633.60 
D. 
$1833.60 


Hint 


2. 
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. 
$733.78 
B. 
$772.91 


C. 
$464.23 
D. 
$134.78 


Hint 


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. 


A. 
$278.59 
B. 
$23.22 


C. 
$4.11 
D. 
$49.30 


Hint 


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? 


A. 
$294.80 
B. 
$569.80 


C. 
$946.00 
D. 
$589.60 


Hint 


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? 


A. 
$106.50 
B. 
$85.20 


C. 
$100.00 
D. 
$266.25 


Hint 


