Simple Interest Answers

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?

Which term is a word for a fee that is paid for the use of another person’s money?

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?

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?

Mara found the length of time of an investment. The principal of the investment was $4,300, the interest rate was 6.2 percent, and the interest was $2,666. Mara made an error in her work.What was Mara’s error?

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

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

LaShea would like to invest her $100 in birthday money. Which option will give her the most money at the end of the investment period?

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 ?

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?