1.
If you invest $1200 in an account that pays 13.2% simple interest, what is the balance of the account after 4 years?
A.
$5433.60
B.
$1358.40
C.
$633.60
D.
$1833.60
Hint
2.
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.
$745.87
D.
$104.13
Hint
3.
Find the interest earned if $278.50 is placed in a savings account at 9.5% simple interest for 3 years.
A.
$28.50
B.
$90.34
C.
$79.37
D.
$26.46
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.
$531.51
C.
$56,127.46
D.
$10,569.46
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.
$589.60
B.
$946.00
C.
$569.80
D.
$294.80
Hint