Simple Interest: Solving for I, P, r, and t

Calculate the simple interest on a loan of $10,000 with a rate of 6.8% for 8 years.

• $5440
• $15440
• $54400
• $544000

What is the amount of interest earned on a loan of $3999 with a rate of 2% to be paid over 2 years?

• $15.99
• $159.96
• $1599.60
• $15996

Starting money = $350
Interest rate = 5.5%
Time = 36 months
How much interest?

• $7.50
• $57.75
• $87.5
• $262.50

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

What is the total amount to be paid back for a $15,600 car loan with a simple interest of 6.7% and a 5 year term?

• $10,374
• $15,600
• $5,226
• $20,826

A simple interest loan accumulated $105 in interest.  The loan was for 1.5 years and had a rate of 5%.  What was the amount borrowed?

• $7875
• $14
• $1400

A simple interest loan accumulated $89 in simple interest.  The principal was $3000 and had a rate of 3%.  Approximately how long did it take to accumulate the $89 in interest?

• 1 year
• 2 years
• 3 years
• 4 years

A simple interest loan accumulated $50 in interest.  The loan was for 18 months and had a rate of 9%.  What was the amount borrowed?

• $200.99
• $1400.80
• $370.37
• $3,700

What is the interest rate on a 6 year loan of $7,000 that accumulated $450 in simple interest?

• .010%
• 6.4%
• 1.07%
• 1.3%

What is the interest rate on a 10 year loan of $4,000 that accumulated $800 in simple interest?

• .020%
• .2%
• 22%
• 2%