7 Questions
| Total Attempts: 297

This is a quiz to test students' knowledge of simple interest.

Questions and Answers

- 1.Suppose $4500 is invested for 60 days at an annual rate of 6%. How much interest will be earned? Include the $ in front of your answer.
- 2.Mr. McGowan borrowed $840 for 60 days at 9% interest. However, he was able to repay the loan in 30 days. How much interest was he able to save by doing this? Include the $ in front of your answer.
- 3.An automobile dealer borrowed $180 000 from the bank at 6.5% annual interest. How much will he be charged for 270 days? Include the $ in front of your answer.
- 4.Interest on a 120-day loan of $36000 is charged at an annual rate of 10%. How much interest is charged? Include the $ in front of your answer.
- 5.Suppose $1800 is invested for 90 days at an annual rate of 6.5%. How much interest will be earned? Include the $ in front of your answer.
- 6.What is 5 1/4 % as a fraction in lowest terms?
- A.
21/400

- B.
525/100

- C.
525/10000

- D.
5.25/100

- E.
21/4

- 7.What is 8 months in years?
- A.
.67 years

- B.
.8 years

- C.
8/11 years

- D.
.75 years

- E.
8/360 years

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