1.
Suppose $4,385 is placed in a savings account for 4 years. Find the simple interest if the interest rate is 3.85%.
A.
$506.47
B.
$337.65
C.
$168.82
D.
$675.29
Hint
2.
James has a bank account with $500.00 that collects 2.875% interest annually. How much will be in James' account after 24 months if no transactions are made?
A.
$3,375.00
B.
$528.75
C.
$471.25
D.
$28.75
Hint
3.
Find the total amount in an account to the nearest cent if $750 is deposited at 8.2% for 1
years.
A.
$92.25
B.
$842.25
C.
$811.50
D.
$840.00
Hint
4.
Find the simple interest to the nearest cent on $527.86 at 3.99% for 7.5 years.
A.
$157.96
B.
$369.90
C.
$147.43
D.
$685.82
Hint
5.
Amber borrowed $2,100 to buy a big screen television. She will be paying $103.25 each month for the next 24 months. Find the simple interest rate for her loan.
A.
9%
B.
9.5%
C.
10.5%
D.
10%
Hint