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.
$1358.40
B.
$5433.60
C.
$633.60
D.
$1833.60
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.
$208.25
C.
$745.87
D.
$104.13
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.
$49.30
B.
$4.11
C.
$278.59
D.
$23.22
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.
$85.20
B.
$100.00
C.
$266.25
D.
$106.50
Hint