Name _______________________
Find the simple interest on each amount.
1. $500.00 at 4% for two years
2. $200.00 at 5% for three months
3. $5000.00 at 2% for two years
4. $600.00 at 10% for six months
5. $1200.00 at 4% for two years
6. $1500.00 at 3% for one year
7. $2300.00 at 2% for two years
8. $500.00 at 4% for four months
9. $2500.00 at 5% for five years
10. $1500.00 at 11% for two years
Find the interest rate for each loan.
11. principal: $2,500; time: two years; simple interest: $450
12. principal: $5,600; time: nine months; simple interest: $357
Find the length of time for each loan.
13. principal: $1,250; interest rate: 6%; simple interest: $300
14. principal: $4,800; interest rate: 7.5%; simple interest: $900
Solve each problem.
15. Juan invested $5,000 in an account that pays 5% interest per year. If interest is split into four payments per year, how much is each interest payment?
16. Sophie put $330 in a savings account at a simple interest rate of 4% per year. Avi put $290 in a savings account at a simple interest rate of 5% per year. Who will have earned more interest after two years? How much more?