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    Simple Interest: Name: Date: Class: Teacher

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    kulsum

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    Simple Interest: Name: Date: Class: Teacher

    Uploaded by

    kulsum
    243 views2 pages

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    simple-interest

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    243 views2 pages

    Simple Interest: Name: Date: Class: Teacher

    Uploaded by

    kulsum

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Name: Date:

    Class: Teacher:

    Simple Interest
    Use simple annual interest to solve the following.
    1. If you borrow $974 for eight years at an interest rate of 9%, how much interest will you pay?

    2. If an investment over seven years at a rate of $374.64 results in a final balance of $1,266.64,
    what was the original investment?

    3. If a principal of $244 was invested at a rate of 9% and terminates with a balance of $441.64,
    how long was the money invested for?

    4. You put $224 into an investment at 10% for five years. What will the balance be at the end of
    five years?

    5. You take out a loan for $818 at an interest rate of 10% for five years. What is the total amount
    that you will have at the end of the five years?

    6. If you received $58.40 on $730 invested at a rate of 4%, for how long did you invest the
    principal?

    7. If a principal of $121 was invested at a rate of 6% and terminates with a balance of $171.82,
    how long was the money invested for?

    8. How long must $661 be invested at a rate of 7% to earn $46.27 in interest?

    9. The cost of a loan for $406 over seven years is $198.94. What was the rate on the loan?

    © www.math4champions.com
    Name: Date:
    Class: Teacher:

    Simple Interest
    Use simple annual interest to solve the following.
    1. If you borrow $974 for eight years at an interest rate of 9%, how much interest will you pay?
    $701.28

    2. If an investment over seven years at a rate of $374.64 results in a final balance of $1,266.64,
    what was the original investment?
    $892

    3. If a principal of $244 was invested at a rate of 9% and terminates with a balance of $441.64,
    how long was the money invested for?
    nine years

    4. You put $224 into an investment at 10% for five years. What will the balance be at the end of
    five years?
    $336.00

    5. You take out a loan for $818 at an interest rate of 10% for five years. What is the total amount
    that you will have at the end of the five years?
    $1,227.00

    6. If you received $58.40 on $730 invested at a rate of 4%, for how long did you invest the
    principal?
    two years

    7. If a principal of $121 was invested at a rate of 6% and terminates with a balance of $171.82,
    how long was the money invested for?
    seven years

    8. How long must $661 be invested at a rate of 7% to earn $46.27 in interest?


    one year

    9. The cost of a loan for $406 over seven years is $198.94. What was the rate on the loan?
    7%

    © www.math4champions.com

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