Ch 11.8 Simple Interest

Simple Interest

Chaper 11.8

Multiple Choice

Sally borrows $25 000 which she must pay back over 7 years at 6.5% Simple interest. How much interest will she pay at the end of the borrowing term? (At the end of 7 years)

• $11 000

• $11 375

• $560

• $1 582

Fill in the Blanks

Given that I=PRN, write the rule that you would use to find the Principle if I=450, R=0.06 and N=3

Multiple Choice

How many years does $5,000 need to be invested to earn $500 interest at 5%pa.

• 1 year

• 2 years

• 3 years

• 4 years

End of Quizizz... Now complete textbook questions:

Ch 11.8 - Q1, Q2, Q5, Q7, Q9, Q11, Q12, Q13, Q15, Q17 - challenge yourself with Q18