WorksheetsShark 1 - 1/23/2024 Simple Interest (3 attempts)
Total questions: 29
Worksheet time: 1hrs 27mins
Emily is planning to buy a new laptop for her studies. She expects to receive a scholarship of $2000 in six months. Her bank, where Gerardo works, offers loans at an annual rate of 5.60%. How much could Emily borrow now from Gerardo's bank if she wants to be able to pay off the entire loan (including interest) with the $2000 scholarship she will receive in six months?
$1845.57
$1945.53
$1923.78
$1887.94
Angel needs to borrow $1000 to buy a new laptop for his studies. His friend Daniel offers him a loan over two years, at an annual interest rate of 4%. He can also borrow the same amount from his bank at an annual rate of 5%, but the loan needs to be paid back in 18 months. In addition, his cousin Yadiel offers to loan him the $1000, provided that Angel pay him back $1100 in two years. Which of the following statements is true?
Angel will pay the same amount in interest whether he accepts Daniel's loan or the bank loan.
Angel will pay the least amount in interest if he accepts the bank loan at 5%.
Angel will pay the least amount in interest if he accepts his cousin Yadiel's loan.
Angel will pay the least amount in interest if he accepts Daniel's loan at 4%.
Amir took a loan of $2800 to buy a car. He plans to repay it in 8 months with an annual interest rate of 9%. What will be the future value of his loan?
$3178.00
$2926.00
$2884.00
$2968.00
Khyle borrows $800 from a local credit union to buy a new laptop for his studies, at an annual interest rate of 6.85%. He plans to pay back the loan in 37 weeks. How much money will Khyle have to pay back at the end of the loan period?
$894.64
$864.52
$848.27
$838.99
Yadiel wants to buy a new gaming console and a few games for it. He needs $500 for this and asks his friend Daniel to lend him the money. He promises to pay back $548 in 9 months. What is the annual interest rate for this short term loan?
12.8%
8.25%
20%
16.5%
Jeanie is planning to buy a new laptop for her studies. She needs to earn $300 in interest to afford it. She decides to deposit $2500 in a bank account that offers 2% simple interest annually. How long will it take for Jeanie to earn the $300?
.6 years
6 years
416.7 years
6.7 years
.06 years
As Heavenly starts her journey at Harvard University, she decides to put $500 in a savings account that offers 3.5% simple interest annually. After 4 years, when she is about to graduate, how much money will she have in her account?
$507
$700
$1200
$70
$570
Jasmine invested $7000 in a local business. After 4 years, she found that her investment had grown to $8050. What was the yearly interest rate (simple interest) she received from the business?
3.75%
1.25%
2.5%
2.875%
28.75%
Angel invested $4000 in a savings account that earns 5% interest yearly (simple interest). He went on a world tour and forgot about it for 12 years. When he returned, Yadiel, his accountant, calculated the total amount in the account. How much did Yadiel find in the account after all that time?
$2400
$6400
$4400
$2200
$6200
Khyle borrows $1200 from a bank to buy a new laptop. The bank charges him an 8% simple interest per year. How much will Khyle have to pay back total in 2 years?
$150
$192
$1350
$1392
Yadiel invested $583 in a savings account. If the bank offers an interest rate of 8% per annum, how much interest will Yadiel earn after six years?
(a)
Angel invested $823 in a local business at an interest rate of 3%. If the business continues to grow at this rate, how much money will Angel have after nine years?
(a)
Betsy invested $482 in a local business. If the business promised a 5% return on her investment over three years, how much interest would Betsy earn?
(a)
Natalie invested $939 in a local business, which promised an 8% return per year. How much will Natalie have at the end of six years?
(a)
Dashel invested $269 in a savings account. If the bank offers an interest rate of 10% per annum, how much interest will she earn after five years?
(a)
Jessica has $542 that she wants to invest. If she finds a bank that offers a 7% interest rate, how long would she need to leave her money in the bank to earn $303.52 in interest?
(a)
Angel invested $201 in a local business that promised a 9% return each year. If Angel leaves his money in for four years, how much will his investment be worth at the end of that period?
(a)
LaToya invested $775 in a local business. If the business promised a 7% return on her investment annually, how much interest would she earn over eight years?
(a)
Dellany lent Mateo $4,000 to start his small business. Mateo agreed to pay back the loan in 5 years with a 6% simple interest rate. How much interest will Mateo pay Dellany?
$800
$1,000
$1,200
$1,500
Interest rate =5%
Time = 5 years
What is the interest earned?
4.3%
Interest rate = 2.5%
TIme = 3 years.
How much interest?
Interest Rate = 3.5%
Time = 2 years
Find the interest earned.
Interest rate =5%
Time = 5 years
What is the interest earned?
