simple interest

A retired couple invested $8000 in bonds. At the end of one year, they received an interest payment of $584. What was the simple interest rate of the bonds? For simple interest, we have: Balance * interest rate = Interest payment 8000i = 584 Divide each side of the equation by 8000 to isolate...

How long will it take $3000 to earn $900 interest at 6% simple interest? Set up the simple interest equation for the interest piece: 3000 * 0.06t = 900 To solve for t in this equation, we type it in our search engine and we get: t = 5

Luke invested 120 at 5% simple interest for a period of 7 years. How much will investment be worth after years Using our balance with simple interest calculator, we get: 162

Daniel invests £2200 into his bank account. He receives 10% per year simple interest. How much will Daniel have after 2 years? Using our simple interest calculator, we get: $2,640

I invest $3000 at 5% interest a year. So far I have made $600 with simple interest. How many years have I been investing? Simple interest is calculated using interest * principal. We have 5% * 3000 = $150 interest per year We take our $600 of total interest and divide it by our interest per...

Bridget deposited $4500 at 6 percent simple interest. How much money was in the account at the end of three years? Using our simple interest balance calculator, we get: $5,310

A couple is opening a savings account for a newborn baby. They start with $3450 received in baby gifts. If no depositts or withdrawals are made, what is the balance of the account if it earns simple interest at 6% for 18 years? Using our simple interest calculator, we get: 7,176

Ravi deposits $500 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years? The formula for interest using simple interest is: I = Prt where P = Principal, r = interest, and t = time. We're given P = 500, r =0.04, and t = 4. So...

Reece made a deposite into an account that earns 8% simple interest. After 8 years Reece has earned 400 dollars. How much was Reece's initial deposit? Simple interest formula: A = P(1 + it) where P is the amount of principal to be invested, i is the interest rate, t is the time, and A is the...

Luke invested $140 at 6% simple interest for a period of 7 years. How much will his investment be worth after 7 years? Using our simple interest balance calculator, we get $198.80.

If $9000 grows to $9720 in 2 years find the simple interest rate. Simple interest formula is Initial Balance * (1 + tn) = Current Balance We have Initial Balance = 9000 Current Balance = 9720 n = 2 Plugging in these values, we get: 9000 * (1 + 2t) = 9720 Divide each side by 9000 1 + 2t =...

You are given a choice of taking the simple interest on $100,000 invested for 5 years at a rate of 2% or the interest on $100,000 invested for 5 years at an interest rate of 2% compounded daily. Which investment earns the greater amount of interest? Give the difference between the amounts of...

You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to earn $500 in interest? The simple interest formula for the accumulated balance is: Prt = I We are given P = 2,000, r = 0.04, and I = 500. 2000(0.04)t = 500...

What is the simple interest accrued from a $500 investment at 7% interest for 5 years? Using our simple interest balance calculator, we get $175 in simple interest earned.

A sum of money doubles in 20 years on simple interest. It will get triple at the same rate in: a. 40 years b. 50 years c. 30 years d. 60 years e. 80 years Simple interest formula if we start with 1 dollar and double to 2 dollars: 1(1 + i(20)) = 2 1 + 20i = 2 Subtract 1 from each side: 20i = 1...

Rachel deposits $6000 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years? Using our simple interest calculator, we get interest paid of $1,440

At what simple interest rate will 4500$ amount to 8000$ in 5 years? Simple Interest is written as 1 + it. With t = 5, we have: 4500(1 + 5i) = 8000 Divide each side by 4500 1 + 5i = 1.77777778 Subtract 1 from each side: 5i = 0.77777778 Divide each side by 5 i = 0.15555 As a percentage we...

Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=Prt to find your answer, where I is interest, P is principal, r is rate and t is time. Enter your solution in decimal form rounded to the...

Kunio puts $2,200.00 into savings bonds that pay a simple interest rate of 2.4%. How much money will the bonds be worth at the end of 4 years? Using our simple interest balance calculator, we his account will be worth $2,411.20 after 4 years

You borrowed $25 from your friend. You paid him back in full after 6 months. He charged $2 for interest. What was the annual simple interest rate that he charged you? Use the formula: I = Prt. We have I = 2, P = 25, t = 0.5 2 = 25(r)0.5 Divide each side by 0.5 4 = 25r Divide each side by 25...