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8.02 Simple interest

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
Approx 2 minutes
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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.

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.

Calculate the simple interest earned on an investment of $\$1050$$1050 at a semiannual rate of $1.1%$1.1% for $9$9 years.

Write your answer to the nearest cent.

Outcomes

MS11-5

models relevant financial situations using appropriate tools

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