Simple Interest Answers

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?

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

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

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 ?

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?

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?

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?

Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What was the amount of the loan?

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?

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?