Scribd
Upload
52 views

Simple Interest Homework

Carolyn invested $700 for 3 years at 2% interest per year. She earned $42 in total interest. Nina invested $1500 for 4 years at 2.5% interest per year. She had $1620 in her account after 4 years. To increase $6000 to $7000 in 3 years requires an annual interest rate of 5%.

Uploaded by

melissa
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
52 views

Simple Interest Homework

Carolyn invested $700 for 3 years at 2% interest per year. She earned $42 in total interest. Nina invested $1500 for 4 years at 2.5% interest per year. She had $1620 in her account after 4 years. To increase $6000 to $7000 in 3 years requires an annual interest rate of 5%.

Uploaded by

melissa
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

SIMPLE INTEREST HOMEWORK

1. Carolyn invested $700 for 3 years at 2% per annum simple interest. Work out the total amount of
interest Carolyn earned.

2. Nina invested $1500 for 4 years at 2.5% per annum simple interest. Work out the total amount of
money in the account at the end of 4 years.

3. What rate of simple interest is needed for $6000 to increase to $7000 in 3 years?

You might also like