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Simple Interest Worksheet: A Practical Guide to Understanding Interest Calculations, Assignments of Business networking

De La Salle University (DLSU)Business networking

Simple Interest Worksheet. 1) a) The formula for simple interest is: ______ b) Rearrange this formula to find: i) Time: ii) The interest rate:.

Typology: Assignments

2021/2022

Uploaded on 08/01/2022

hal_s95
hal_s95 🇵🇭

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SimpleInterestWorksheet
1)a)Theformulaforsimpleinterestis:_____________
b)Rearrangethisformulatofind:
i)Time: ii)Theinterestrate: iii)ThePrincipal:
2)IfMichaelinvests$2000inthebankatarateof5.5%for6yearshowmuch
interestwillhemake?
3)Kelseytakesoutaloanfor$6000tostartabusinessafterhighschool.Thebank
chargesher8%interestfortheloan.After5yearshowmuchinterestwillbeadded
ontotheloan?
4)Jessieinvests$3345inthestockmarket.Overthe3yearsshehasthisinvested
shegetsanaveragereturnof7.8%.Howmuchwillherinvestmentbeworthafterthe
3years?
pf2

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Download Simple Interest Worksheet: A Practical Guide to Understanding Interest Calculations and more Assignments Business networking in PDF only on Docsity!

Simple Interest Worksheet

  1. a) The formula for simple interest is: _____________ b) Rearrange this formula to find: i) Time: ii) The interest rate: iii) The Principal:
  2. If Michael invests $2000 in the bank at a rate of 5.5% for 6 years how much interest will he make?
  3. Kelsey takes out a loan for $6000 to start a business after high school. The bank charges her 8% interest for the loan. After 5 years how much interest will be added on to the loan?
  4. Jessie invests $3345 in the stock market. Over the 3 years she has this invested she gets an average return of 7.8%. How much will her investment be worth after the 3 years?
  1. Scott takes gets a student loan to go to college after high school. If he pays $ in interest at a rate of 3%, how much must the loan have been for originally?
  2. Taylor has just won $4,250 from the 50/50 at the Sea Dog's game and decides to invest all of it. If he makes $1275 with a 5% interest rate, how long must he have had the money invested?
  3. At what rate would you need to invest $12000 and make $2880 after 8 years?
  4. What will the total value of an investment of $5000 be if it has an interest rate of 7% and is invested for 20 years?
  5. Morgan has an investment worth $130,000 dollars after 20 years. If his original investment was for $50,000 what must the interest rate have been?