1.
Find the interest earned if $580 is placed in a savings account at 4.8% simple interest for
years.
A.
$27.84
B.
$48.72
C.
$69.60
D.
$14.50
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.
$733.78
B.
$772.91
C.
$464.23
D.
$134.78
Hint
3.
Find the interest earned if $278.50 is placed in a savings account at 9.5% simple interest for 3 years.
A.
$26.46
B.
$28.50
C.
$79.37
D.
$90.34
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.
$56,127.46
C.
$531.51
D.
$10,569.46
Hint
5.
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.
$23.22
B.
$278.59
C.
$4.11
D.
$49.30
Hint