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Financial Math - Simple Interest ($I=Prt$)
- 1If you invest $800 at 6% simple interest, how much will you have after 5 years?
- 2If you invest $1500 at 5.5% simple interest, how much will you have after 84 months?
Good test question! - (watch the time units).
- 3If the simple interest was 4.75% and you earn $1187.50 in interest after 10 years, how much principal was invested?
- 4If the simple interest was 3.25% and you earn $1424.53 after 144 months, how much principal was invested?
- 5If you earned \($\)53.75 simple interest 5 years after depositing \($\)500, What was the simple interest rate?
- 6If you earned \($\)892.50 after depositing \($\)1400 at 4.25% simple interest, how long was it invested ?