Exploring Simple Interest and Exponential Growth

A bank offers a simple interest rate of 5% per year. If you deposit $1,000, how much interest will you earn after 3 years?

• $150

• $200

• $75

• $100

You invest $2,000 in a savings account that earns 4% simple interest annually. How much total money will you have after 5 years?

• $3000

• $2200

• $2400

• $2600

A loan of $1,500 is taken out with a simple interest rate of 6% per year. What will be the total amount to be paid back after 4 years?

• $1,500

• $2,000

• $1,200

• $1,860

If you invest $800 at a simple interest rate of 3% per year, how much interest will you earn after 10 years?

• $240

• $120

• $180

• $300

A company invests $5,000 in a project that yields a simple interest of 7% per year. How much interest will the company earn after 2 years?

• $1,000

• $500

• $1,400

• $700

You have $1,200 in a savings account that earns 2.5% simple interest. How much interest will you earn in 6 years?

• $180

• $150

• $240

• $300

A student borrows $900 for school with a simple interest rate of 5% per year. How much will the student owe after 3 years?

• 1100

• 950

• 1200

• 1035

If you invest $1,000 at a simple interest rate of 8% for 4 years, what will be the total amount including interest?

• $1,400

• $1,200

• $1,500

• $1,320

A car loan of $10,000 has a simple interest rate of 4% per year. How much interest will be paid after 5 years?

• 1500

• 2500

• 3000

• 2000

You plan to save $2,500 in a bank account with a simple interest rate of 3% per year. How much interest will you earn after 7 years?

• $525

• $700

• $1,000

• $350