Interactive practice questions
Danielle invests $\$92000$$92000 in an account that pays $0.4%$0.4% simple interest per month.
Complete the table below, showing the opening balance, interest, and closing balance for the first six months.
| Month | Opening Balance | Interest | Closing Balance |
|---|---|---|---|
| $1$1 | $92000$92000 | $368$368 | $92368$92368 |
| $2$2 | $92368$92368 | $368$368 | $\editable{}$ |
| $3$3 | $\editable{}$ | $\editable{}$ | $\editable{}$ |
| $4$4 | $\editable{}$ | $\editable{}$ | $\editable{}$ |
Easy< 1 min
Hermione has $\$31000$$31000 in a bank account that earns $1.5%$1.5% simple interest per quarter.
Easy2 min
Kenneth takes out a loan of $\$2300$$2300 at a simple interest rate of $4%$4% per month and makes monthly repayments of $\$667$$667.
Easy2 min
Vincent borrows $\$12000$$12000 at a simple interest rate of $8.2%$8.2% per quarter and makes quarterly repayments of $\$2300$$2300.
Medium1 min
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