Simple Interest Word Problem

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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

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

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

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

• $120

• $144

• $1,200

• $1,440

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50

• $26.25

• $87.5

• $262.50

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

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