Simple Interest

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Simple Interest

NAME *

Class *

1. Judith has 80 savings in a saving account that earns 3% annually. The interest is not compounded. How much interest will she earn in a year? *

A) $2.40

B) $24.00

C) $240.00

D) $83.00

2. Calculate the simple interest of a $2000 loan with the interest of 4% per year. The duration of the loan is 5 years. *

A) $400.00

B) $80.00

C) $800.00

D) $40.00

3. Daniel has 120 saving in a saving account that earns 5% annually. The interest is not compounded. How much interest will he earn in a couple of years? *

A) $600.00

B) $12.00

C) $240.00

D) $60.00

4. Calculate the simple interest of $2500 loan with the interest of 5% per year. The duration is 4 years. *

A) $25.00

B) $125.00

C) $500.00

D) $60.00

5. Ruth has 200 saving in a saving account that earns 3% annually. The interest is not compounded. How much interest will he earn in 5 years? *

A) $600.00

B) $300.00

C) $100.00

D) $30.00

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