Simple Interest Test Review Activity #4

I= $200

P= $1,000

r= ?

t= 4 years

• 2%

• 5%

• 10%

• 7.5%

Lilly received $875 from her birthday party. She put the money in a bank with 6.5% simple interest rate. How much will she have earned after 84 months?

• $398.13

• $350.90

• $298.31

• $345.67

A saving account earns 9% simple interest per year. The principal is $2,100. What is the balance after 5 years?

• $945

• $1,155

• $3,045

• $2,100

You put $2,000 in a savings account. The amount earns 2.25% simple interest per year. What is the interest earned after 48 months?

• $180

• $170

• $181

• $179

$600 at 4% for 2 years

• $84

• $51

• $48

• $101

You put $350 in an account. The account earns $20.25 simple interest in 3.5 years. What is the annual interest rate?

• 0.99%

• 2.65%

• 1.02%

• 1.65%

I=?

P= 500

r= 4%

t= 36 months

• $54

• $102

• $75

• $60

I= 18

P= $125

r= ?

t= 6 years

• 0.024%

• 24%

• 2.4%

• 0.24%

Blake took out a loan from the bank to purchase a car. If he borrowed $18,750 at a simple interest rate of 8.2%, how much total will he have paid after 5 years?

• $34,432.12

• $45,978.65

• $25,786.87

• $26,437.50

Veronica took out a 48 month loan of $5,500 to make some home improvements. At a simple interest rate of 3.25%, how much total will she pay?

• $710

• $715

• $714

• $815