

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


A. 
$14.50 
B. 
$27.84 


C. 
$69.60 
D. 
$48.72 


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. 
$772.91 
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. 
$745.87 


C. 
$1058.25 
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. 
$28.50 
B. 
$79.37 


C. 
$90.34 
D. 
$26.46 


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. 
$946.00 


C. 
$569.80 
D. 
$589.60 


Hint 


