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



Glencoe
The McGraw-Hill Companies