1.
Martha deposited $400 in a savings account. The account earns 7.15% interest annually. If she does not deposit or withdraw any money for 30 months, how much will she have in her account.
A.
$610
B.
$471.50
C.
$210
D.
$71.50
Hint
2.
Jerry borrowed $3,900 to purchase a used car. He will be paying $137.80 for the next 30 months. Find the simple interest rate on the loan.
A.
5%
B.
3.6%
C.
2.4%
D.
6%
Hint
3.
Cynthia opened a savings account with $1,250.00.The account pays 4.5% interest annually. If no transactions are made, how much will Cynthia have in her savings account in 3 years?
A.
$1,418.75
B.
$168.75
C.
$1,264.06
D.
$1,081.25
Hint
4.
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.
$471.25
B.
$3,375.00
C.
$28.75
D.
$528.75
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.
10%
B.
10.5%
C.
9.5%
D.
9%
Hint