SMS PreAlg More Simple Interest HW

by Malia Rivera

| 20 QuestionsAn account earns annual simple interest. Find the interest earned, principle, interest rate, or time for each problem.

1

1

Interest earned: $3250

Principle: $5000

Rate: _________

Time: 10 years

2

1

Type your answer for #1

3

1

Interest earned: $39.60

Principle: __________

Rate: 11%

Time: 6 months

4

1

Type your answer for #3

5

1

You deposit $200 in an account earning 5% simple interest. Compute the simple interest earned after 4 years.

6

1

Type your answer for #5

7

1

Based on your answer for #5, what is your new account balance after the 4 years?

8

1

Type your answer for #7

9

1

If a loan is taken our for $373 at 10% and costs $186.50, how long was the loan for?

10

1

Type your answer for #9

11

1

What will the final balance be for $611 invested at 7% for 6 years?

12

1

Type your answer for #11

13

1

You borrow $2000 from the bank to buy a new computer. The bank offers you a 12 month loan at a rate of 10% simple interest. Compute the simple interest that you will pay on the loan.

14

1

Type your answer for #13

15

1

Based on your answer to #13, what is the total amount of money that you paid for the computer?

16

1

Type your answer for #15

17

1

Find the interest on a loan of $2500 that is borrowed at 9% for 7 months.

18

1

Type your answer for #17

19

1

Based on your answer for #17, how much would it cost to repay the loan?

20

1

Type your answer for #19

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