

1. 
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. 
$134.78 


C. 
$772.91 
D. 
$464.23 


Hint 


2. 
Determine the amount of interest owed after 2 years on a $850 loan at % if no payments are made. 


A. 
$745.87 
B. 
$1058.25 


C. 
$208.25 
D. 
$104.13 


Hint 


3. 
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? 


A. 
$56,127.46 
B. 
$8,018.21 


C. 
$10,569.46 
D. 
$531.51 


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. 
$4.11 
B. 
$49.30 


C. 
$278.59 
D. 
$23.22 


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. 
$946.00 
B. 
$294.80 


C. 
$589.60 
D. 
$569.80 


Hint 


