Find the simple interest earned to the nearest cent for each principal,
interest rate, and time.Examples 1 and 2- $640, 3%, 2 years 2. $1,500, 4.25%, 4 years
- $580, 2%, 6 months 4. $1,200, 3.9%, 8 months
Find the simple interest paid to the nearest cent for each loan, interest rate,
and time.Example 355 $4,500, 9%, 3.5 years 6. $290, 12.5%, 6 monthsExample 4 7. FINANCES The Masters family financed a computer that cost $1,200. If the
interest rate is 19%, how much will the family owe for the computer after
one month if no payments are made?= Step-by-Step Solutions begin on page R1.
Extra Practice begins on page EP2.Find the simple interest earned to the nearest cent for each principal,
interest rate, and time.Examples 1 and 2- $1,050, 4.6%, 2 years 9. $250, 2.85%, 3 years
- $500, 3.75%, 4 months 11. $3,000, 5.5%, 9 months
Find the simple interest paid to the nearest cent for each loan, interest rate,
and time.Example 3- $1,000, 7%, 2 years 13. $725, 6.25%, 1 year
- $2,700, 8.2%, 3 months 15. $175.80, 12%, 8 months
Example 4 16. CREDIT CARDS Leon charged $75 at an interest rate of 12.5%. How much
will Leon have to pay after one month if he makes no payments?- TRAVEL A family charged $1,345 in travel expenses to a credit card with
a 7.25% interest rate. If no payments are made, how much will they owe
after one month for their travel expenses?
B 18. BANKING The table shows interest ratesTime Rate
6 months 2.4%
9 months 2.9%
12 months 3.0%
18 months 3.1%based on time invested. Home Savings and Loan
a. What is the simple interest earned on
$900 for 9 months?
b. Find the simple interest earned on
$2,500 for 18 months.1919 INVESTING Ramon has $4,200 to invest for college.
a. If Ramon invests $4,200 for 3 years and earns $630, what is the simple
interest rate?
b. Ramon’s goal is to have $5,000 after 4 years. Is this possible if he
invests with a rate of return of 6%? Explain.Lesson 3E Applying Percents 361345_363_C06_L3_895130.indd 361 12/30/09 4:09 PM