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.
$1833.60
B.
$5433.60
C.
$633.60
D.
$1358.40
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.
$772.91
B.
$733.78
C.
$134.78
D.
$464.23
Hint
3.
Determine the amount of interest owed after 2 years on a $850 loan at
% if no payments are made.
A.
$104.13
B.
$1058.25
C.
$745.87
D.
$208.25
Hint
4.
Find the interest earned if $278.50 is placed in a savings account at 9.5% simple interest for 3 years.
A.
$26.46
B.
$90.34
C.
$28.50
D.
$79.37
Hint
5.
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.
$531.51
B.
$8,018.21
C.
$56,127.46
D.
$10,569.46
Hint