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.
$71.50
B.
$471.50
C.
$210
D.
$610
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.
3.6%
B.
2.4%
C.
5%
D.
6%
Hint
3.
Find the total amount in an account to the nearest cent if $750 is deposited at 8.2% for 1
years.
A.
$811.50
B.
$840.00
C.
$92.25
D.
$842.25
Hint
4.
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.
9.5%
B.
10%
C.
10.5%
D.
9%
Hint
5.
Dakota borrowed $4,200 to buy furniture. He will be paying $108.50 per month for the next 48 months. Find the simple interest rate for his loan.
A.
8%
B.
12%
C.
6%
D.
10%
Hint