Q1
Find the rate if a principal of $1,100 earned $1,089 interest in 12 years.
Q2
In 10 years, a bank account with a 5.25% annual interest rate earned $18,375 as simple interest. What was the principal amount?
Q3
Find the simple interest earned after 12 years on $1,350 at an interest rate of 8%.
Q4
Pablo borrowed $50,000 to start a business. Three years later, he repaid the $50,000 along with an interest of $9,375. What was the annual interest rate? Round your answer to two decimal places.Q5
Find the rate if a principal of $5,875 earned $1,645 interest in 4 years. Round to the nearest whole percent.
Q6
Find the principal invested if $800 interest was earned in 8 years at an interest rate of 4%.
Q7
Helen borrowed $8,000 from her grandfather to pay for college. Five years later, she paid him back the $8,000 and an interest of $1,200. What was the annual interest rate?
Q8
Lebron loaned $20,000 to his daughter to help her buy a house. When she sold the house four years later, she paid him the $20,000 along with an interest of $3,000. What was the annual interest rate? Round your answer to two decimal places.
Solution
Q1
Find the rate if a principal of $1,100 earned $1,089 interest in 12 years.
Ans: 8.25%……….please follow the link below to purchase the solution at $4
