Simple Interest (Interest Only)

Ariel takes a loan of 8,000 to buy a used truck at the rate of 9 % simple Interest. Calculate the annual interest to be paid for the loan amount in 3 years.

• 2,160

• 720

• 1500

• 8500

Steve invested 10,000 in a savings bank account that earned 2% simple interest. Find the interest earned if the amount was kept in the bank for 4 years.

• 700

• 800

• 900

• 1000

How much interest will be earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $80,000

• $800

• $16

When Lisa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $1,080

• $20,960

• $12,960

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

• $150
• $192
• $1350
• $1392

Find the simple interest for a loan of $3400 at 5% for 2 years.

• $340

• $34000

• $3400

• $34

Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.

• $338.00
• $33.80
• $33.75
• $337.50

Rita has a loan of $35,460. This loan has a simple interest rate of 3% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year?

• $1,063.80

• $36,523.80

• $1,058.80

• $36,472.80

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Dan borrowed $2,000 for 6 years at 12% annual simple interest rate. How much interest is that?

• $120
• $1440

• $1,200
• $1,100