Simple Interest Test Review

How long do you need in order to earn $5704.00 in interest at a rate of 4.6% with an original invested amount of $15,500?

• 20 Years

• 8 Years

• 1 Year

• 3 Years

Find the interest rate if the principal amount is $400 and after 5 years the interest earned was $90.

• 22.23%

• 14%

• 8.2%

• 4.5%

What was the principal amount if your interest earned was $10.00 at a rate of .5% over a period of 6 months?

• $333.33

• $8,000

• $4,000

• $5,892

How many months would it take to earn $13 in interest at a yearly rate of 3% if your original investment was $650?

• 6 Months

• 8 Months

• 10 Months

• 2 Months

What is the interest earned if your initial investment was $526 at 3% for 6 years?

• $9.46

• $94.68

• $9,468.00

• $946.80

What was your original investment amount if you earned $20 in interest at a rate of 14% over 3 months?

• $82.00

• $47.62

• $571.43

• $450.00

Last year you earned $273.47 in interest for your online savings account. If your starting balance was $8,546.00, what was your interest rate?

• 3.2%

• 8.4%

• .084%

• .0319%

Find the Simple Interest:

Principal: $12,800

Interest Rate: 8%

Term: 2 Years

• $24.80

• $204.80

• $204,800.00

• $2,048.00

Find the Interest Rate:

Principal - $80.00

Interest Earned - $30.00

Term: 3 Years

• .125%

• 5.1%

• 12.5%

• 8%

What is the simple interest earned on $100.00 at 3% for 6 years?

• $18.00

• $1,800.00

• $180.00

• $18,000.00