Math 7 (Q1-Q3)

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?

• 85%

• 5.5%

• 8.5%

• 14%

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

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?

• 5 years
• 8 years
• 10 years
• 9 years

What is the interest rate if the principal is $32,000 and $9600 over six years. 

• 50%
• 0.5%
• 5%
• 0.05%

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

How much simple interest would be earned on a savings account of $4,500 at 5.5% interest per year after 24 months?

• $594,000

• $495

• $49,500

• $5,940

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

• $135

• $13,500

• $270

• $27,000

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

• $6.75

• $3.375

• $2,278.13

• $6,750