Simple Interest Finding Principal

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

• $160

• $800

• $80,000

• $16

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 loan of $1,500 at a rate of 19% 15 months.

• $356.25

• $427,500

• $4,275

• $285

Find the simple interest paid on a loan of $4,750 at a rate of 19.5% for 30 months.

• $5

• $2315.63

• $27,787.50

• $926.25

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

When Loofa 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

• $20,960

• $1,080

• $12,960

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

• 50%

• 5%

• 500%

• 7.5%

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%

How much interest would you earn if you deposited $575 for 3 months at 2.88% simple interest?

• $4.14

• $4,968

• About $400

• $1,725