

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. 
$464.23 
B. 
$733.78 


C. 
$772.91 
D. 
$134.78 


Hint 


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


A. 
$208.25 
B. 
$745.87 


C. 
$104.13 
D. 
$1058.25 


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. 
$23.22 
B. 
$278.59 


C. 
$49.30 
D. 
$4.11 


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. 
$569.80 
B. 
$294.80 


C. 
$589.60 
D. 
$946.00 


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. 
$266.25 
B. 
$85.20 


C. 
$100.00 
D. 
$106.50 


Hint 


