Name: Date:
Class: Teacher:
Simple Interest
Use simple annual interest to solve the following.
1. If you borrow $974 for eight years at an interest rate of 9%, how much interest will you pay?
2. If an investment over seven years at a rate of $374.64 results in a final balance of $1,266.64,
what was the original investment?
3. If a principal of $244 was invested at a rate of 9% and terminates with a balance of $441.64,
how long was the money invested for?
4. You put $224 into an investment at 10% for five years. What will the balance be at the end of
five years?
5. You take out a loan for $818 at an interest rate of 10% for five years. What is the total amount
that you will have at the end of the five years?
6. If you received $58.40 on $730 invested at a rate of 4%, for how long did you invest the
principal?
7. If a principal of $121 was invested at a rate of 6% and terminates with a balance of $171.82,
how long was the money invested for?
8. How long must $661 be invested at a rate of 7% to earn $46.27 in interest?
9. The cost of a loan for $406 over seven years is $198.94. What was the rate on the loan?
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Name: Date:
Class: Teacher:
Simple Interest
Use simple annual interest to solve the following.
1. If you borrow $974 for eight years at an interest rate of 9%, how much interest will you pay?
$701.28
2. If an investment over seven years at a rate of $374.64 results in a final balance of $1,266.64,
what was the original investment?
$892
3. If a principal of $244 was invested at a rate of 9% and terminates with a balance of $441.64,
how long was the money invested for?
nine years
4. You put $224 into an investment at 10% for five years. What will the balance be at the end of
five years?
$336.00
5. You take out a loan for $818 at an interest rate of 10% for five years. What is the total amount
that you will have at the end of the five years?
$1,227.00
6. If you received $58.40 on $730 invested at a rate of 4%, for how long did you invest the
principal?
two years
7. If a principal of $121 was invested at a rate of 6% and terminates with a balance of $171.82,
how long was the money invested for?
seven years
8. How long must $661 be invested at a rate of 7% to earn $46.27 in interest?
one year
9. The cost of a loan for $406 over seven years is $198.94. What was the rate on the loan?
7%
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