If \$16\,716 of simple interest was earned in 7 years, find how much interest was earned:
Each year
Each month
Assuming that a year has 365 days and 52 weeks, calculate the simple interest earned on the following investments:
\$2540 at 9\% p.a. for 2 years.
\$2010 at a rate of 6\% p.a. for 13 months.
\$1050 at a semiannual rate of 1.1\% for 9 years.
\$7000 at 1.8\% per quarter for 9 years.
\$5320 at 6\% p.a. for 95 weeks.
\$5440 at 6\% p.a. for 566 days.
Calculate the final value of these investments:
\$6170 at 5\% p.a. for 6 years.
\$9060 at 4\% p.a. for 44 months.
\$4230 at 8\% p.a. for 32 weeks.
\$4620 at 6\% p.a. for 146 days.
\$402 is invested at 4\% p.a. simple interest for 9 years. After this time, the principal plus interest is reinvested at 6\% p.a. simple interest for 8 more years.
Calculate the value of the investment after 9 years.
Calculate the final value of the investment.
Calculate the total amount of interest earned.
Assuming that a year has 365 days and 52 weeks, calculate the simple interest charged on the following loans:
\$8000 at 8\% p.a. for 6 years.
\$3860 at a rate of 9\% p.a. for 13 months.
\$5240 at 4\% p.a. for 73 weeks.
\$5010 at 5\% p.a. for 666 days.
Calculate the flat rate interest generated on a loan of \$4290 at a rate of 3\% p.a. for 23 months.
Luke's investment of \$3000 earned simple interest of 4\% p.a. for the first 8 years, and 2\% p.a. for the next 5 years. Calculate the total amount of interest earned.
Skye takes out a loan of \$800 to pay for an online course. Flat rate interest is charged at 10\% p.a. If she repays the loan in 9 months, how much interest does she pay in total?
Tara takes out a car loan of \$6000 at a simple interest of 8\% p.a. She plans to repay the loan over 2 years through regular monthly repayments.
Calculate the total interest that Tara will incur over the duration of the repayment.
Calculate the value of each repayment of the loan. Round your answer to two decimal places if necessary.
Dave and Emily are looking to invest \$11\,600 and \$18\,300 respectively for 6 years. The table shows the simple interest rates for different principals:
Calculate the interest Dave will earn on his investment.
Calculate the interest Emily will earn on her investment.
How much will they earn if they combine their principals and invest together?
Should they invest separately or together? Explain your answer.
| Principal | Rate p.a. |
|---|---|
| \text{Between \$4\,800 and \$14\,800} | 4\% |
| \text{Between \$14\,800 and \$24\,800} | 5\% |
| \text{Greater than \$24\,800} | 6\% |
The simple interest earned on each investment is given below. Find the annual interest rate r, as a percentage, correct to one decimal place:
\$3600 over 2 years is \$504.00
\$1600 over 3 quarters is \$103.20
\$4800 over 20 months is \$760.00
\$7550 over 9 years is \$6523.20
\$5800 over 6 quarters is \$321.90
\$5500 over 24 months is \$385.00
\$1957 is invested at a simple interest rate of 6\% p.a. Calculate the number of years needed for interest of \$1174.20 to be earned on the investment.
\$552 is invested at a simple interest rate of 5\% p.a.
Calculate the interest that will be earned on the investment in one year.
Calculate the number of years it will take the investment to grow to \$828.
Sally made loan repayments totalling to \$4320 on a loan of \$4000 over 4 years.
Calculate the total simple interest charged on the loan.
Calculate r, the annual simple interest rate.
\$2379.00 is invested at a simple interest rate of 2\% p.a. Calculate the number of quarters needed for interest of \$23.79 to be earned on the investment.
\$63\,790 is invested at a simple interest rate of 8\% p.a. Calculate the number of months needed for interest of \$7654.80 to be earned on the investment. Round your answer to the nearest month.
\$7050 is invested at a simple interest rate of 7\% p.a. Calculate the number of years needed for it to grow to \$7950. Round your answer to two decimal places.
For his investment into government bonds, Buzz was paid simple interest of 9\% p.a. Calculate the size of Buzz's initial investment \$P, if he earned \$294.12 interest after 2 years.
If \$2196 is invested at 2\% p.a. simple interest for 8 years, what simple interest rate r, would earn the same amount of interest in only 5 years? Express r as a percentage, correct to two decimal places.