Simple and Compound Interest

6.3

Andrew borrows $79,500 for 2 years and earns $10,017 of simple interest. Calculate the interest rate.

7000

Find the principal for a loan that has an earned interest of $3500 with an annual rate of 10% for 5 years.

625.31

Find the total INTEREST of a $630 investment that has been invested at a rate of 9% for 8 years compounded annually.

467.11

Find the amount of interest earned on a principal of $2750, compounded semi-annually for 2 years at 8%.

1392

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

1766.12

Emily's parents put $1500 in her bank account for college tuition at an interest rate of 8.25% compounded quarterly. What will be the total balance after 2 years?

8

If the interest earned was $55.20 on an investment of $230 that has a simple interest rate of 3%, how long was the money invested?

71,040

John wants to open a showroom and borrows $48,000 on a 12% simple interest rate. He plans to pay this after 4 years. What will that total amount to repay on the loan?

992.78

Kennedy won $3000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded annually, how much interest will she earn in 10 years?

1.5

Leroy borrowed $1500 at an annual simple interest rate of 12%. He paid $270 in interest. For what time period did Leroy borrow the money?

551.42

Mickey earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 4 years?

8125

Phyllis went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 5% for 5 years. What is the total amount that Phyllis will pay for the chair?

1663.90

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded annually, how much interest will Riley earn in 15 years?

345.60

Robert invested $200 in a retirement account that had a rate of 20% that compounds annually. If Robert leaves his money in for 3 years, how much money will be in his account?

45,688.95

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much interest will the loan have after 5 years?

26.25

You deposit $350 into a simple interest account that earns 2.5% for 3 years. How much interest do you earn?