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Simple Interest
Test Description: Simple Interest
Instructions: Answer all questions to get your test result.
1) If you invest $2,556.00 in an opportunity that will pay 10% for 3 years. How much interest will you earn in that period?
A
$741.80
B
$766.80
C
$586.80
D
$612.80
2) If you invest $15,602.00 in an opportunity that will pay 2% for 2 years. How much interest will you earn in that period?
A
$675.08
B
$598.08
C
$704.08
D
$624.08
3) If you invest $780.00 in an opportunity that will pay 15% for 5 years. How much interest will you earn in that period?
A
$505.00
B
$585.00
C
$545.00
D
$495.00
4) An investment opportunity will pay 9% for 11 years. How much do you need to invest to earn $10,192.05 in interest?
A
$10,312.00
B
$10,295.00
C
$10,126.00
D
$10,005.00
5) There is $21,814.00 in an account for 24 years. At what interest rate would you earn $94,236.48 in interest?
A
12
B
18
C
20
D
22
6) There is $23,293.00 in an account that earns 4% annually. How long until the account has earned $6,522.04 in interest?
A
7
B
8
C
6
D
5
7) There is $4,261.00 in an account for 4 years. At what interest rate would you earn $2,556.60 in interest?
A
16
B
18
C
17
D
15
8) There is $24,519.00 in an account that earns 1% annually. How long until the account has earned $6,129.75 in interest?
A
22
B
24
C
25
D
23
9) An investment opportunity will pay 5% for 7 years. How much do you need to invest to earn $3,428.60 in interest?
A
$9,421.00
B
$9,796.00
C
$9,646.00
D
$9,391.00
10) If you invest $22,380.00 in an opportunity that will pay 4% for 10 years. How much interest will you earn in that period?
A
$8,952.00
B
$9,022.00
C
$8,536.00
D
$8,243.00
*select an answer for all questions
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