1.   Find the interest earned if $580 is placed in a savings account at 4.8% simple interest for years.
    A. $48.72 B. $27.84
    C. $14.50 D. $69.60
    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. $5433.60 B. $633.60
    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. $464.23 B. $772.91
    C. $733.78 D. $134.78
    Hint

  4.   Determine the amount of interest owed after 2 years on a $850 loan at % if no payments are made.
    A. $745.87 B. $208.25
    C. $104.13 D. $1058.25
    Hint

  5.   Find the interest earned if $278.50 is placed in a savings account at 9.5% simple interest for 3 years.
    A. $79.37 B. $28.50
    C. $26.46 D. $90.34
    Hint



Glencoe
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