

1. 
Find the interest earned if $580 is placed in a savings account at 4.8% simple interest for years. 


A. 
$69.60 
B. 
$14.50 


C. 
$48.72 
D. 
$27.84 


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. 
$134.78 


C. 
$464.23 
D. 
$772.91 


Hint 


3. 
Determine the amount of interest owed after 2 years on a $850 loan at % if no payments are made. 


A. 
$1058.25 
B. 
$745.87 


C. 
$104.13 
D. 
$208.25 


Hint 


4. 
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. 
$10,569.46 
B. 
$8,018.21 


C. 
$56,127.46 
D. 
$531.51 


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. 
$100.00 
B. 
$85.20 


C. 
$266.25 
D. 
$106.50 


Hint 


