7. Interest and Loans
Interactive practice questions
If $\$16716$$16716 of simple interest was earned in $7$7 years, how much interest was earned each:
a
year?
b
month?
Easy
1min
Calculate the simple interest earned on an investment of $\$2540$$2540 at $9%$9% p.a. for $2$2 years.
Give your answer to the nearest cent.
Easy
1min
Calculate the simple interest on a loan of $\$8000$$8000 at $8%$8% p.a. for $6$6 years.
Give the answer to the nearest dollar.
Easy
< 1min
Ned borrowed $\$3600$$3600 from a bank at a simple interest rate of $2.5%$2.5% for one year.
Easy
1min
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