Simple Interest

Question 1

Juanita borrowed $600 to purchase a new computer. She was charged 7% interest for two years.The amount of money Juanita borrowed is called the initial amount✔ principalaccount balanceinvestment.

Revolt · Accepted Answer

B: ✔ principal

Question 2

Juanita borrowed $600 to purchase a new computer. She was charged 7% interest for two years. How much interest will Juanita pay?Juanita will pay $ interest.

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84

Question 3

$79.73$797.30$7,973$79,730

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B: $797.30

Question 4

Donna put $450 into a 6-month certificate of deposit that earns 4.6% simple annual interest. How much interest did the certificate earn?$

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10.35

Question 5

Question 5

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: $717.60; : $4,552.60; : $913.95; : $380.60

Question 6

On January 1st, 2003, Gerry opened a savings account that paid 3.25% annual interest. His initial deposit was $1,100. If Gerry didn’t deposit or withdraw any additional money, what was his balance at the close of December 31st, 2012?(Hint: determine how many years the savings account was open for.)$1,064.25$1,421.75✔ $1,457.50$1,621.25

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C: ✔ $1,457.50

Question 7

Which did you include in your response? Check all that apply.

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PENDING

Question 8

Which did you include in your response? Check all that apply.

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PENDING

Simple Interest Answers

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