7 Questions
| Total Attempts: 77

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Questions and Answers

- 1.P = $7500T = 4 yearsR = 2%Find the interest amount.
- A.
$900

- B.
$600

- C.
$950

- D.
$850

- 2.You open a savings account with $26,700 with an interest rate of 3.5%. You save your money for 4.5 years. How much interest did you earn in the account?
- A.
$42052.50

- B.
$26700

- C.
$30905.25

- D.
$4205.25

- 3.On a credit card you charged $7600. The bill comes in the mail but you do not have the money to pay for it. It takes you 3 years to pay if off and after the 3 years you pay an additional $912 in simple interest. What rate did the credit card company charge you?
- A.
.4

- B.
4%

- C.
40%

- D.
.004

- 4.Jose deposits $1500 of his tax refund into an account that earn simple annual interest. How much interest will his account earn after 6 years at an annual interest rate of 13%?Your answer must have a symbol and cents!
- 5.Mary deposits $3000 from her summer job into an account that earns simple interest. How much money will be in her account after 6 months at an annual interest rate of 5.5%?
- 6.You invest $4700 into an account with an interest rate of 3.5%. You earn $246.75 in interest. How long did you invest the money for?
- 7.You invest $350 in an account. It earns an interest rate of 7.25%. You invest the money for 8 months. How much money do you have in the account after 8 months? Round your answer to the nearest cent if necessary.