Percents and Simple Interest Review

Find the simple interest.

$2000 at 9% interest for 4 years

Find the simple interest.

$8000 at 16% for 1 year

Find the simple interest.

$318 at 9% for 1 year

• 2862

• 2.62

• 28.62

• 286.2

John put 14,000 Euros in an account at a simple interest rate of 1% per year.  How much interest will he get after 12 years?

• 16,800 Euros

• 168,000 Euros

• 1,680 Euros

A garden hose company invested $400,000 in an investment account. The account earns 5% interest per year. How much money will the company have in the account at the end of one year?

• $20,000

• $420,000

• $46,000

• $620,000

You invest $200 at a simple interest rate of 5% per year. How much interest will you earn after 3 years?

• $30

• $10

• $15

• $45

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

Elena deposits $1,500 in a savings account that earns 3.0% simple interest per year. If no deposits or withdrawals are made during the year, how much money will be in her account after one year?

• $1,530

• $1,545

• $1,800

• $1,950

Rob has $5,000. He deposits his money into a savings account at Town Bank which offers a 4.25% interest rate. If Rob does not make any deposits or withdrawals, how much simple interest will Rob's money earn after 6 months?

• $10,625

• $1275

• $106.25

• $127,500

Ron is seeking a loan with a simple interest rate of 7% per year. He wants to borrow $4,500. How much will he be charged after 36 months?

(principal is the total amount borrowed) (time is in years, so convert 36 months to years)

• $5,445

• $9,450

• $11,340

• $945