Solve the Simple Interest Problems:
1. If you borrow $113 for two years at an interest rate of 4%, how much interest will you pay?
2. How much principal must be invested to earn $278.88 in seven years at an interest rate of 8%?
3. If the balance at the end of three years on an investment of $386 that has been invested at a rate of 5% is $443.90, how much was the interest?
4. The cost of a loan for $811 over eight years is $519.04. What was the rate on the loan?
5. If you borrow $262 for one year at an interest rate of 8%, how much interest will you pay?
6. How much interest is earned on $872 at 6% for three years?
7. If an investment over five years at a rate of $202.95 results in a final balance of $653.95, what was the original investment?
8. How long must $140 be invested at a rate of 7% to earn $49.00 in interest?
9. If the balance at the end of two years on an investment of $859 that has been invested at a rate of 7% is $979.26, how much was the interest?
10. If you received $102.42 on $569 invested at a rate of 6%, for how long did you invest the principal? |