Simple Interest — Unit test Answers

What is the simple interest that is missing from the table? Use the formula .I?p$5,630r4%t2 years

Li invests money in a savings account. She wants to know the amount of simple interest that she will earn in 6 years at 3.75 percent. What additional information does she need to find this amount?

Bobby borrowed $500 at 12 percent simple annual interest. He paid back $680 to pay off the loan. How many years did it take Bobby to pay back the loan?

The following information is known about a loan.Time = 8 yearsInterest rate = 14%Principal = $1,010What is the total amount of simple interest that is earned?

Hanna puts $4,383 in a savings account with an annual interest rate of 5.2 percent for 3 years. Into which variable should she substitute 4,383 in the simple interest formula ?

Mrs. Sing invests $12,876 for her business at an annual interest rate of 7 percent for 3 years. Which number will Mrs. Sing substitute for r in the simple interest formula?

Maggie is considering two investments. Investment AInvestment BPrincipal$10,000$8,000Interest rate3%2.8%Time in years515 Which investment will be worth more at the end of the investment period?

Jon invests $4,100 into an account that pays 5 percent simple interest each year. What is the total balance in the account after 3 years?

Constance will put $500 in a savings account. Which option should she choose so that she will have the most money?

The following information is known about a loan.Time = 7 yearsInterest rate = 6%Interest = $840.00What was the principal on the loan?