

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


A. 
$27.84 
B. 
$69.60 


C. 
$48.72 
D. 
$14.50 


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. 
$633.60 
B. 
$5433.60 


C. 
$1358.40 
D. 
$1833.60 


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. 
$733.78 


C. 
$134.78 
D. 
$464.23 


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. 
$8,018.21 
B. 
$531.51 


C. 
$56,127.46 
D. 
$10,569.46 


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. 
$589.60 


C. 
$569.80 
D. 
$946.00 


Hint 


