1/4 - 6.6 Simple Interest

How much simple interest

is earned?

$750 at 6% for 3 years

• $1.35

• $13.50

• $135

• $1350

Find the annual interest rate.

I = $30, P = $150, t = 2 years

• 4%

• 6%

• 8%

• 10%

You deposit $300 in a savings account. The account earns 5% simple interest per year. What is the account balance after 4 years?

• $60

• $120

• $360

• $420

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

• 14
• 140
• 168
• 16.80

Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?

• 6%
• 7%
• 8%
• 9%

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

• 88%
• 20%
• 12.5%
• 10%

What is the simple interest formula?

• I=rt
• I=prt
• I=bh
• I=Bh

Christian opened a savings account with $3250. His account will earn 5.2% simple interest. How much money will be in his account after 6 years?

• $4,264.00
• $1,104.00
• $1,100.00
• $4,400.00

Sofia deposited $1,700 into a savings account that accumulates 1.8% interest. If she keeps the money in the account for 7 years, how much money will be in the account?

• $214.20
• $1,914.20
• $21,420.00
• $23,120.00