# Percent Problems: Simple Interest (Grade 7)

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## Percent Problems: Simple Interest

1.

Find the balance on an account with $198 invested at 4% simple interest for 13 years.

- 102.96
- 112.90
- 300.96
- 312.95

2.

Jose deposits $1,500 of his tax refund into an account that earns simple annual interest. How much interest will his account earn after 6 years at an annual interest rate of 4%?

- $360
- $365
- $36
- $380

3.

Marsha deposited $7,500 into a savings account 2 years ago that earns simple interest. The interest rate is 3% per year. How much money did Marsha earn in interest?

- $750
- $900
- $675
- $450

4.

Mrs. Avers deposited $3,000 in her credit union savings account. What amount of interest will she receive on her deposit if she leaves the money in the account for one year at [math]8 1/2%[/math] interest?

- $250
- $255
- $300
- $350
- $400

5.

Find the simple interest earned on $3,500 at 7.5% per year for 5 years.

- $1,312.50
- $13,125.00
- $1,245.50
- $12,455.00

6.

Find the interest AND the total amount owed if you borrowed $400 for 2 years at an interest rate of 8%.

- $64; $464
- $60, $460
- $640, $4600
- $6.40; $46.00

7.

John wants to have an interest income of $3,000 a year. How much must he invest for one year at 8%?

8.

The Burnham Parents-Teachers Association invests $5,200 at 6% simple yearly interest rate paid semi-annually. How much is in the account after 1/2 year?

9.

How much simple interest would there be after one year on a deposit of $900.00 when the rate is 8% APR?

10.

Tex invested some money in cattle ranching at a simple rate of 5.5%. He earned $1,760 in just four years. How much money did he have to invest?

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