To buy a car jessica borrowed 15 000 for 3 years at an annual simple interest rate of 9. Mitch paid off the loan in just 5.
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Create your own worksheets like this one with infinite pre algebra.
Simple interest worksheet with answers pdf. These exercises will help homeschoolers learn how to calculate the rate of return on investments and illustrate how interest can accrue over time. 9 calculate the simple interest rate p a if. 1 34 100 at 4 for 3 years 2 210 at 8 for 7 years.
Simple interest worksheet no. How much interest will she pay if she pays the entire loan off at the. And round your final answer.
B rearrange this formula to find. Mitch took out a school loan for 24 000. Calculate the simple interest for the word problems.
4 000 at 3 for 4 years. At 3 annual interest it will take approximately 23 1 years to double your money. 1 900 at 5 9 for 2 years.
151 56 if you borrow 421 for nine years at an interest rate of 4 how much interest will you pay. 28 62 how much interest does a 318 investment earn at 9 over one year. Students will answer such questions as.
Addition examples if you would like to see more examples of solving compound interest pr oblems just click on the link below. 2 if michael invests 2000 in the bank at a rate of 5 5 for 6 years how much interest will he make. Simple and compound interest date period use simple interest to find the ending balance.
Ii the interest rate. A 4 b 7 8 c 10 3 d 16 e. Simple interest worksheet directions.
If you deposit 5000 how much interest will you earn in one year. Simple interest i 5 100 prn compound interest a 5 1 100 p r n 1 final amount i 5 a 2 p interest where p is the principal r is the interest rate per period expressed as a percentage n is the number of periods use 1 year 5 52 weeks 5 365 days. Simple interest worksheet 1 a the formula for simple interest is.
Simple and compound interest. Using i prt solve the following interest problems for the interest or the balance. Simple interest worksheet express all monetary answers correct to the nearest cent.
Additiona l examples 12t 0 03 2001001 12 æ ö ç ł ł 12t. A bank is offering 2 5 simple interest on a savings account. Use 1 year 52 weeks 365 days.
In this exercise students will answer 10 word problems about calculating interest. Simple and compound interest worksheet 1 write as decimals. 405 00 if you borrow 675 for six years at an interest rate of 10 how much interest will you pay.
2 300 at 7 for 9 years. The interest rate on the loan was 8. Answers 1 a 72 b 108 c 30 d 39 2 a 260 b 416 c 234 d 117 3 a 0 06 b 0 085 c 0 1225 d 0 025 e 0 2 f 0 0505 g 0 035 h 0 0725.
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