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Find the principal invested if $15,222.57 interest was earned in 6 years at an interest rate of 10.28% .

$24,679.91

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Find the principal invested if $10,953.70 interest was earned in 5 years at an interest rate of 11.04%.

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Find the rate if a principal of $5,400 earned $432 interest in 2 years.

4%

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Find the rate if a principal of $2,600 earned $468 interest in 6 years.

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Find the rate if a principal of $11,000 earned $1,815 interest in 3 years.

5.5%

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Find the rate if a principal of $8,500 earned $3,230 interest in 4 years.

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Solve Simple Interest Applications

In the following exercises, solve the problem using the simple interest formula.

Casey deposited $1,450 in a bank account with interest rate 4%. How much interest was earned in 2 years?

$116

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Terrence deposited $5,720 in a bank account with interest rate 6%. How much interest was earned in 4 years?

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Robin deposited $31,000 in a bank account with interest rate 5.2% . How much interest was earned in 3 years?

$4,836

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Carleen deposited $16,400 in a bank account with interest rate 3.9% . How much interest was earned in 8 years?

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Hilaria borrowed $8,000 from her grandfather to pay for college. Five years later, she paid him back the $8,000 , plus $1,200 interest. What was the rate of interest?

3%

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Kenneth lent his niece $1,200 to buy a computer. Two years later, she paid him back the $1,200 , plus $96 interest. What was the rate of interest?

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Lebron lent his daughter $20,000 to help her buy a condominium. When she sold the condominium four years later, she paid him the $20,000 , plus $3,000 interest. What was the rate of interest?

3.75%

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Pablo borrowed $50,000 to start a business. Three years later, he repaid the $50,000 , plus $9,375 interest. What was the rate of interest?

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In 10 years, a bank account that paid 5.25% earned $18,375 interest. What was the principal of the account?

$35,000

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In 25 years, a bond that paid 4.75% earned $2,375 interest. What was the principal of the bond?

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Joshua's computer loan statement said he would pay $1,244.34 in interest for a 3 year loan at 12.4% . How much did Joshua borrow to buy the computer?

$3,345

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Margaret's car loan statement said she would pay $7,683.20 in interest for a 5 year loan at 9.8%. How much did Margaret borrow to buy the car?

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Caitlin invested $8,200 in an 18-month certificate of deposit paying 2.7% interest. How much interest did she earn form this investment?

$332.10

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Diego invested $6,100 in a 9-month certificate of deposit paying 1.8% interest. How much interest did he earn form this investment?

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Airin borrowed $3,900 from her parents for the down payment on a car and promised to pay them back in 15 months at a 4% rate of interest. How much interest did she owe her parents?

$195.00

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Yuta borrowed $840 from his brother to pay for his textbooks and promised to pay him back in 5 months at a 6% rate of interest. How much interest did Yuta owe his brother?

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Everyday math

Interest on savings Find the interest rate your local bank pays on savings accounts.

  1. What is the interest rate?
  2. Calculate the amount of interest you would earn on a principal of $8,000 for 5 years.

Answers will vary.

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Interest on a loan Find the interest rate your local bank charges for a car loan.

  1. What is the interest rate?
  2. Calculate the amount of interest you would pay on a loan of $8,000 for 5 years.

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Writing exercises

Why do banks pay interest on money deposited in savings accounts?

Answers will vary.

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Why do banks charge interest for lending money?

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Self check

After completing the exercises, use this checklist to evaluate your mastery of the objectives of this section.

.

On a scale of 1–10, how would you rate your mastery of this section in light of your responses on the checklist? How can you improve this?

Questions & Answers

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
Maciej
characteristics of micro business
Abigail
for teaching engĺish at school how nano technology help us
Anassong
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
NANO
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
NANO
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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A soccer field is a rectangle 130 meters wide and 110 meters long. The coach asks players to run from one corner to the other corner diagonally across. What is that distance, to the nearest tenths place.
Kimberly Reply
Jeannette has $5 and $10 bills in her wallet. The number of fives is three more than six times the number of tens. Let t represent the number of tens. Write an expression for the number of fives.
August Reply
What is the expressiin for seven less than four times the number of nickels
Leonardo Reply
How do i figure this problem out.
how do you translate this in Algebraic Expressions
linda Reply
why surface tension is zero at critical temperature
Shanjida
I think if critical temperature denote high temperature then a liquid stats boils that time the water stats to evaporate so some moles of h2o to up and due to high temp the bonding break they have low density so it can be a reason
s.
Need to simplify the expresin. 3/7 (x+y)-1/7 (x-1)=
Crystal Reply
. After 3 months on a diet, Lisa had lost 12% of her original weight. She lost 21 pounds. What was Lisa's original weight?
Chris Reply
Practice Key Terms 4

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Source:  OpenStax, Prealgebra. OpenStax CNX. Jul 15, 2016 Download for free at http://legacy.cnx.org/content/col11756/1.9
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