Jerry invested $1500 in an account that paid him 8.25% simple interest, what will the balance of his account be after 6 years?
Ex 5
Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?
Ex 6
Jack deposited $1400 in his bank account. After 3 years, the account is worth $1,694. Find the simple interest rate the account earned.
Ex 7
Barrett managed to get a loan for $3000 from the M&I Marshall and Ilsley Bank in order to get a bike. The $3000 was obtained at an interest rate of 3% per annum, with a 24 month term. How much interest will Barrett owe at the end of the loan?
Ex 8
Karter has borrowed $3000 from the Boston Private Bank & Trust Co. so that he can get his hands on a digital camera. They loaned him the $3000 at a per annum interest rate of 9% with a 30 month term. How much will Karter owe the bank at the end of the loan period?