WorksheetsL7: Simple interest
Total questions: 5
Worksheet time: 8mins
Name
Class
Date
1.
Tom has invested $1600 in a 90-day savings certificate paying an annual interest rate of 4.5% p.a. Find the interest earned.
a)
$20.00
b)
$18.00
c)
$15.78
d)
$17.75
2.
How much interest is owed on a debt of $2100 borrowed at 5.25% p.a. for 90 days?
a)
99.23
b)
27.18
c)
5.25
d)
122.50
3.
What amount of money will accumulate to $1275.75 in 280 days at 5.4% p.a.?
a)
1577.83
b)
1222.90
c)
1225.00
d)
1328.60
4.
Find the present value of $1270 due in 60 days if money is worth 6.2% p.a.
a)
$1210.00
b)
$1282.94
c)
$1257.19
d)
$1246.32
5.
Loan payments of $500 due today and $400 due in 9 months are to be combined into a single payment 6 months from now. What single payment will settle the two debts if interest on the loans is 6% p.a. and the focal date is 6 months from now?
a)
$927.00
b)
$450.0
c)
$919.0
d)
$909.09
100 %
