Simple Interest

Jane received $875 from her quincenera. She deposited it into her savings account and is going to earn 3.75% simple interest. She makes no other deposits or withdrawals. How much interest will she earn in 15 years?

• $4.92

• $4921.88

• $492.19

• $49.22

Jane received $875 from her quincenera. She deposited it into her savings account which will earn 3.75% simple interest. If she makes no other deposits or withdrawals for 15 years, what will be the total in her account?

• $880

• $5797

• $1367

• $924

Dan borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back IN TOTAL after 2 years?

• $150

• $1350

• $192

• $1392

How much interest will be earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $80,000

• $800

• $16

You decide to buy your first car. It costs $12, 750. The bank gives you two choices. Option A is a 4 year loan at 6%. Option B is a 3 year loan at 9%.

Which Option allows you to pay the smallest amount of interest?

You earn $4,968 for money that you invested 12 years ago. The bank paid you 3.45% simple interest. No other deposts or withdrawals were made. What was your initial deposit?

• $4,968

• $12,000

• $205,625

• $12,057

You earn $1,690 for money that you invested 5 years ago. You deposited $8450 and did not make any additional deposits or withdrawals. What was your interest rate?

• 4%

• .04%

• .4%

• 40%