Consumer Math

Question 1

Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.

 $160.00

$14.00   

$140.00

$2140.00

Question 2

Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year.

 $236.76

 $198.96

 $157.84

 $197.30

Question 3

 How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year?

 $786.54

 $793.15

 $674.18

 $898.90

Question 4

 How much interest will have to be paid on a loan of $50,967 for 23 months at a simple interest rate of 10.6% per year? 

$10,441.81

 $10,354.80

 $10,805.00

 $9904.59

Question 5

Find the interest paid on a loan of $5410 at 7% annual simple interest for 2.4 years.

 $908.88

 $478.36

 $1287.58

$871.01

Question 6

 Find the interest paid on a loan of $69,750 at 9% annual simple interest for 2.7 years.

 $16,321.50

 $8920.66

 $23,226.75

$16,949.25

Question 7

 Find the maturity value of a loan of $6787 after 4 months. The loan carries a simple interest rate of 14% per year.

 $7106.39

 $7103.73

 $7024.55

 $7182.91

Question 8

 Find the maturity value of a loan of $13,942 after 8 months. The loan carries a simple interest rate of 11.9% per year.

 $15,048.07

 $14,909.81

 $15,186.32

 $15,057.36

Question 9

Find the maturity value of a loan of $49,583 after 18 months. The loan carries a simple interest rate of 8.3% per year.

 $56,099.03

 $55,807.96

$55,413.13

 $55,756.08

Question 10

 Find the total amount of money (maturity value) that the borrower will pay back on a loan of $3429 at 14% annual simple interest for 2.8 years.

 $4725.16

 $4136.46

 $4773.17

 $5253.23