Calculate the simple interest charged on a loan of \$2600 at 8\% p.a. for 4 years.
Calculate the simple interest earned on an investment of \$8760 at 2\% p.a. for 7 years.
Luke's investment of \$9000 earned simple interest of 10\% p.a. for the first 4 years and 3\% p.a. for the next 7 years.
Calculate the total amount of interest he earned.
Calculate the final value of his investment.
Elena invests \$303 at 2\% p.a. simple interest for 7 years. After this time she reinvests the principal plus interest at 6\% p.a. simple interest for 5 more years.
What is the value of her investment after 7 years?
What is the final value of her investment?
How much interest did she earn in total?
Beth takes out a car loan of \$3000 at a simple interest rate of 8\% p.a. She plans to repay the loan over 4 years through equal regular monthly repayments.
Calculate the total interest that Beth will be charged over the duration of the loan.
Calculate the value of each loan repayment.
Dave and Maggie are looking to invest \$7900 and \$20\,600 respectively for 9 years. The table shows the simple interest offered for different principals:
How much interest will Dave earn on his investment?
How much interest will Maggie earn on her investment?
How much will they earn if they invest their money together?
How much more interest will they earn by combining their money?
| Principal | Rate p.a. |
|---|---|
| \text{Between }\$4600\text{ and }\$14\,600 | 3\% |
| \text{Between }\$14\,600\text{ and }\$24\,600 | 4\% |
| \text{Greater than }\$24\,600 | 5\% |
Calculate the simple interest earned on the following investments. Assume that a year has 52 weeks or 365 days.
\$5370 at 10\% p.a. for 3 years.
\$4640 at 2\% p.a. for 23 months.
\$3180 at 3\% p.a. for 31 months.
\$7530 at 4\% p.a. for 16 months.
\$5320 at 3\% p.a. for 77 weeks.
\$5150 at 9\% p.a. for 37 weeks.
\$7580 at 10\% p.a. for 84 weeks.
\$6680 at 6\% p.a. for 678 days.
\$4370 at 7\% p.a. for 200 days.
\$400 at 9\% p.a. for 3 months.
\$5450 at 7\% p.a. for 569 days.
\$8310 at 1.8\% per half-year for 2 years.
\$5000 at 1.7\% per quarter for 9 years.
Amelia made loan repayments totalling to \$1360 on a loan of \$1000 over 6 years.
Calculate the total simple interest charged on the loan.
Calculate the percentage annual simple interest rate.
For each of the following investments find the annual interest rate, r, as a percentage rounded to one decimal place.
\$2220 invested over 8 years earns \$728.16 in interest.
\$1040 invested over 5 years earns \$442.00 in interest.
\$7500 invested over 10 quarters earns \$1781.25 in interest.
\$9300 invested over 9 quarters earns \$585.90 in interest.
\$6600 invested over 20 months earns \$528.00 in interest.
\$3400 invested over 14 months earns \$170.57 in interest.
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? Round your answer to two decimal places.
Dave invests \$635 at 5\% p.a simple interest. He wants to know the number of years it will take the investment to grow to \$889.00.
Calculate the interest that must be earned on the investment for Dave to reach his goal.
Hence, calculate the number of whole years it will take for the investment to reach his goal.
For how many years does \$4750 need to be invested for it to grow to \$4940, if simple interest is paid at 8\% p.a.? Round your answer to two decimal places.
For how many whole years does \$4078 need to be invested to earn \$4078 in interest, if simple interest is paid at 10\% p.a.?
For how many whole months does \$49\,610 need to be invested to earn \$6697.35 in interest, if simple interest is paid at 9\% p.a.?
For how many whole quarters does \$7151.00 need to be invested to earn \$250.29 in interest, if the simple interest rate is 2\% p.a.?
Calculate the amount of money that was originally invested at 8\% p.a. and earned \$340 simple interest over 2 years.
Find the principal that earned \$520 simple interest over 6 months at a rate of 4\% per annum.
Find the principal that earned:
For his investment into government bonds , Buzz was paid simple interest of 6\% p.a. Calculate the size of Buzz's initial investment \$P if he earned \$1094.40 interest after 10 years.