Year 9 - Loans and Savings (calculator)

How much interest will the bank pay Tom if he deposits $200 for one year and the interest rate is 3%?

• $6

• $3

• $ 60

• $30

How much interest will the bank pay Tom if he deposits $200 for one year and the interest rate is 5%?

• $5

• $10

• $ 20

• $ 15

Layla wants to buy a washing machine for $2500. Her bank charges 12% interest on loans. How much will her washing machine cost her if she uses a loan to buy it and pays the bank after one year? (the total amount she needs to pay is asked)

• $300

• $2500

• $2800

• $2512

A Credit Union offers a 5% interest rate on deposits. What amount of simple interest will have been paid on a deposit of $400 after one year?

• $5

• $40

• $10

• $20

A Credit Union offers a 5% interest rate on deposits. What amount of simple interest will have been paid on a deposit of $400 after two years?

• $40

• $80

• $20

• $10

What rate of interest will earn $45 in simple interest on a principal of $750, invested for 2 years?

• 3%

• 4%

• 5%

• 6%

How many years would a principal of $540 earning %5 interest per year take to earn $216 in simple interest?

• 5

• 8

• 10

• 12

Find the simple interest paid on the loan of $200 for 4 years at 15% per year.

• $60

• $120

• $90

• %30

Find the simple interest paid on the loan of $3000 for 2 years at 12% per year.

• $600

• $720

• $900

• %300

Find the simple interest paid on the loan of $4500 for 3 years at 9% per year.

• $450

• $720

• $2255

• %1215