13.1. Simple Interest http://www.ck12.org
- How much interest will a person earn if they invest $2,300 for 49 years at 3% simple interest?
- How long will it take $2,000 to grow to $5,000 at 3% simple interest?
- What starting balance grows to $12,000 in 8 years with 10% simple interest?
- Suppose you have $3,000 and want to have $35,000 in 25 years. What simple interest rate will you need?
- How long will it take $1,000 to grow to $4,000 at 8% simple interest?
- What starting balance grows to $9,500 in 4 years with 6.5% simple interest?
- Suppose you have $1,500 and want to have $8,000 in 15 years. What simple interest rate will you need?
- Suppose you have $800 and want to have $6,000 in 45 years. What simple interest rate will you need?
- What starting balance grows to $2,500 in 2 years with 1.5% simple interest?
- Suppose you invest $4,000 which earns 5% simple interest for the first 12 years and then 8% simple interest for
the next 8 years. How much money will you have after 20 years? - Suppose you invest $10,000 which earns 2% simple interest for the first 8 years and then 5% simple interest for
the next 7 years. How much money will you have after 15 years?
Principalis the amount initially deposited into the account.Notice the spelling is principal, not principle.
Interestis the conversion of time into money.