Simple Interest Questions Part 1

1)      $4800 is invested at 4% per annum for 6 years

a) What is the simple interest payable?

b) Find the amount accruing for the investment

2)      Jeana invested $1280 at 6% per annum for 8 years calculate

a)  The simple interest payable

b) The total amount of money Jeana collected at the end of the 8 year period

3)      a) Calculate the simple interest collected by a lending institution if $2850 is loaned for 4 years at 9% per annum

b) How much money did the borrower actually repay the lending institution?

c) What sum of money was paid monthly?

4)      A lady invested $12 500 for 8 years at 4 ½ % per annum

a) Determine the simple interest paid

b) Calculate the amount of money she collected after the period of 8 years

5)      Mr Johnson invested $14 450 in a credit union at 6.25 % per annum simple interest for 8 years

Calculate:

a) The interest he was paid

b) The total   amount of money he would have received at the end of the time of investment

6)      Miss Evans borrowed $7250 from an institution at 12.5 % per annum simple interest for 7 years

Find:

a)   The sum of money paid in interest to the institution

b)      The total amount of money repaid to the institution

c)  The value of each monthly installment