

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


A. 
$69.60 
B. 
$48.72 


C. 
$14.50 
D. 
$27.84 


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. 
$1358.40 
B. 
$1833.60 


C. 
$5433.60 
D. 
$633.60 


Hint 


3. 
Determine the amount of interest owed after 2 years on a $850 loan at % if no payments are made. 


A. 
$208.25 
B. 
$1058.25 


C. 
$104.13 
D. 
$745.87 


Hint 


4. 
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. 
$8,018.21 
B. 
$10,569.46 


C. 
$56,127.46 
D. 
$531.51 


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. 
$569.80 
B. 
$946.00 


C. 
$294.80 
D. 
$589.60 


Hint 


