Find the simple interest

1: $640,3%,2years

2:$1500,4.25%,4years

3:$580,2%6months

4:$1200,3.9%,8months

5:$4500,9%,3.5years

6:Question 6 (1 point)

  1. $290, 12.5%, 6 months

7:Leon charged $75 at an interest rate of 12.5%. How much will Leon have to payafter one month if he makes no payments?

8:Jamerra received a $3,000 car loan. She plans on paying off the loan in 2 years. At the end of 2 year, Jamerra will have paid $450 in interest. What is the simple interest rate of the ar loan?

9:Pablo has $4,200 to invest for college.


a.) If Pablo invests $4,200 for 3 years and earns $630, what is the simple interest rate?


b.) Pablos's goal is to have $5,000 after 4 years. Is this possible if he invests with a rate of return of 6%?

Verified Answer :

I=PRT
I=interest
P=principal=amount  you invested
R=rate in decimal, don't forget to convert percent to decimal
T=time in YEARS (don't forget, 12 months per year)

1. I=6400.032=$38.4

2. I=1500*0.0425*4=$
255

3. I=5800.02(6/12)=$5.80

5. I=1200*0.039*(8/12)=$
31.2

6. I=2900.125(6/12)=$18.125

7. I=750.125(1/12)=0.78125, in 1 month, in interest

8. 3000, 2 years,
 450=30002r,
 450=6000r,
 divide both sides by 6000
0.075=r
7.5%=rate

9.
a. 630=4200
r3
630=12600
r
divide both sides by 12600
0.05=r
5%=rate

b. 5000 total
5000-4200=800
I=800
800=4200r4
800=16800*r
divide both sides by 16800
0.04761=r
4.761%=rate needed
6>4.7
yes