Simple Interest

Simple Interest

Multiple Choice

Find the simple interest for a loan of $3400 at 5% for 2 years.

• $340

• $34000

• $3400

• $34

Multiple Choice

What is the total balance of an account with a starting balance of $600 at 2.4% for 6 months?

• $7.20

• $672

• $607.20

• $864

• $86.40

Multiple Choice

P = $560
r = 7%
t = ?
I = $196

• 19 months

• 19 years

• 5 months

• 5 years

• 9 years

Multiple Choice

What is the interest rate of the loan for $45,000 for 25 years that costs you a total of $95,625 at the end of 25 years?

• 3 %

• 3.5 %

• 4%

• 4.5%

• 5%

Multiple Choice

I = $78

P = ?

r = 3.25%

t = 2 months

• $14,400

• $120

• $1440

• $152.10

Multiple Choice

P = $9800

r = 12.8%

t = 19 months

A = ?

• $1986.13

• $11,786.13

• $23,833.60

• $33,633.60

Multiple Choice

Betty invested $1475 at a rate of 8% and earned $177 in interest. How long was her money invested?

• 1 year

• 18 months

• 2 years

• 15 years

• 15 months

Multiple Choice

Makayla earned $3000 on savings account after 10 years at a rate of 15%. How much money did she originally put in the account?

• $1000

• $5000

• $2000

• $3000

Multiple Choice

A = $77,115

P = $29,100

r = ?

t = 20 years

• 8%

• 8.25%

• 13%

• 13.25%