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. $48.72 D. $69.60
    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. $134.78 B. $733.78
    C. $464.23 D. $772.91
    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. $4.11 B. $23.22
    C. $49.30 D. $278.59
    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. $946.00 B. $569.80
    C. $294.80 D. $589.60
    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. $106.50 D. $266.25
    Hint



Glencoe
The McGraw-Hill Companies