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- 1. Multiple Choice
Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.
$160
$800
$80,000
$16
- 2. Multiple Choice
Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.
$33.50
$40,000
$50
$400
- 3. Multiple Choice
Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.
$135
$13,500
$270
$27,000
- 4. Multiple Choice
Find the simple interest paid on a loan of $1,500 at a rate of 19% 15 months.
$356.25
$427,500
$4,275
$285
- 5. Multiple Choice
Find the simple interest paid on a loan of $4,750 at a rate of 19.5% for 30 months.
$5
$2315.63
$27,787.50
$926.25
- 6. Multiple Choice
Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.
$6.75
$3.375
$2,278.13
$6,750
- 7. Multiple Choice
When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.
$720
$20,960
$1,080
$12,960
- 8. Multiple Choice
After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?
50%
5%
500%
7.5%
- 9. Multiple Choice
Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?
85%
5.5%
8.5%
14%
- 10. Multiple Choice
How much interest would you earn if you deposited $575 for 3 months at 2.88% simple interest?
$4.14
$4,968
About $400
$1,725
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