Вы находитесь на странице: 1из 7

# Goal

:  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       1
Simple Interest CW/AK

GMF10 Mr. Storey
Name ________ _________ Date Sept 26, 2018 Period ____

## Simple interest is a percentage of the amount invested or

borrowed

I = P x r x t or I = Prt

I = simple interest
P = principal (amount invested or borrowed)
r = interest rate (as a decimal)
t = term (time in years)

## 1. Calculate the amount of interest on a loan of \$3000

borrowed for 4 years at 6.5%/a. (Ans: I=\$780)

## 2. \$4080 in interest is earned when \$24 000 is invested for 2

years. What was the interest rate? (Ans: Interest Rate=8.5%)

## 3. How much money was borrowed if \$930 in interest

was charged at 3%/a for 2 years? (Ans: P=\$15 500)

## 4. For how many years would \$44 000 have to be invested at

1%/a to earn \$3960 in interest? (Ans: t = 9 years)

1
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       2
Simple Interest CW/AK

1. At what rate of interest would \$50 900 have to be
invested at to earn \$4072 in interest after 8 years?

## 2. What is the interest charged if \$58 600 is borrowed at

9%/a for 6 years?

## 3. For how many years does \$2600 is invested at 13%/a to

earn \$2028 in interest?

## years at 10%/a. How much did she borrow?

2
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       3
Simple Interest CW/AK

Converting Time Units
1 year = 365 days # days # years
(write # to 4
# years # days
decimal places)
1. 3
6. 90
2. 4.5
7. 150
3. 1.5
8. 60
4. 6
9. 180
5. 0.5
10. 300

1 year = 12 months

## # years # months # months # years

11. 3 16. 30
12. 2 17. 72
13. 3.5 18. 42
14. 0.75 19. 18
15. 0.5 20. 3

3
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       4
Simple Interest CW/AK

## 1. How much interest is earned on an \$1500 invested at

2.5%/a for 30 months?

## 2. \$640 is borrowed at 9.8%/a and \$25.78 in interest is

charged. How many days was the money borrowed?

## 3. \$250 in interest is earned when money is invested for

5 years at 11¼%/a. How much money was invested?

## 4. \$2400 is invested for 120 days and earns \$98.63 in

interest. What is the interest rate as a percent?

## 5. How many months will it take for \$1200 to earn \$78

interest at 9.75%/a?

## 6. \$5400 is invested at 5%/a for 3 months. How much

interest is earned?

4
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       5
Simple Interest CW/AK

## 1. Find the amount of the loan in which \$422.50 in interest is

charged for borrowing money at 3¼%/a for 2 years.

## 2. \$4000 is invested at 1¾%/a and earns \$105 in interest. For

how many months was the money invested?

## 3. How much money was borrowed if \$429 was charged for

borrowing the money for 3 years at 6.5%/a?

## 4. How much interest is charged for borrowing \$3600 at

4½%/a for 150 days?

5
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       6
Simple Interest CW/AK

5. \$30 000 is invested for 2 years and earns \$2550 in
interest. What is the interest rate?

## Principal Rate Term Interest

a. \$1800 2¼%/a 90 days ?
b. \$2600 4.4%/a months? \$171.60
c. \$16 000 ? 30 months \$900
d. ? 1.78%/a 2 years \$192.24
e. \$25 000 ? 6 months \$812.50

6
Goal  :  use  the  simple  to  calculate  the  interest  and  amount  of  the  loan  or  investment       7
Simple Interest CW/AK

# years # days
(write # to 4
1. 3 1095
decimal places)
2. 4.5 1642.5
6. 90 0.2466
3. 1.5 547.5
7. 150 0.4110
4. 6 2190
8. 60 0.1644
5. 0.5 182.5
9. 180 0.4932
10. 300 0.8219

## # years # months # months # years

11. 3 36 16. 30 2.5
12. 2 24 17. 72 6
13. 3.5 42 18. 42 3.5
14. 0.75 9 19. 18 1.5
15. 0.5 6 20. 3 0.25
0.25

## Page 4 1) I=\$93.75 2) 150 days 3) P=\$444.44

4) 12.5% 5) 8 months 6) I=\$67.50

## Page 5 & 6 1) P=\$6 500 2) 18 months 3) P=\$2 200 4) I=\$66.58

5) 4.25% 6) a) \$9.99 b) 18 months c) 2.25% d)
P=\$5400 6) e) 6.5%

7