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1. |
If you invest $1200 in an account that pays 13.2% simple interest, what is the balance of the account after 4 years? |
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A. |
$1358.40 |
B. |
$633.60 |
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C. |
$1833.60 |
D. |
$5433.60 |
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Hint |
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2. |
Determine the amount of interest owed after 2 years on a $850 loan at  % if no payments are made. |
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A. |
$1058.25 |
B. |
$104.13 |
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C. |
$745.87 |
D. |
$208.25 |
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Hint |
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3. |
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? |
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A. |
$56,127.46 |
B. |
$8,018.21 |
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C. |
$10,569.46 |
D. |
$531.51 |
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Hint |
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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? |
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A. |
$946.00 |
B. |
$569.80 |
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C. |
$294.80 |
D. |
$589.60 |
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Hint |
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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? |
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A. |
$100.00 |
B. |
$106.50 |
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C. |
$266.25 |
D. |
$85.20 |
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Hint |
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