Name _______________________

2.5. Simple Interest

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?