Simple Interest Worksheet (Present TO Future Value) PDF

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Simple Interest Worksheet:

1. Calculate the simple interest earned from each of the following investments. How much will they have in total at the end of the term (Time)? $5600 at 7% per Annum(p.a.) for 3 years

$10 000 at 3.5% p.a. for 3 years

$18 100 at 5.1% Semi Annually for 5 years

$4900 at 8.0% p.a. for 100 days

$7000 at 6.3% p.a. for 40 months

$3200 at 0.8% per month for 1 year

$22 000 at 0.1% per week for 8 months

$2342 at 0.04 Per Day for 300 days

$5100 at 3.25% p.a. for 30 years

$9023 at 7% p.a. for 409 days.

2. What amount must be invested at 5.7% p.a. for 36 months to earn $641.51 in interest?

3. An investment of $3200 earned $404.25 in interest after 312 days. What was the interest rate p.a.?

4. How long will it take a loan of $4323 at 3.94% p.a. for it to be charged $1000 in interest? How many days is that? Weeks?

5. What is the principal that must be invested to reach each of the following final amounts? Answer to the nearest cent. Remember S = P(1+rt) $5600 at 3.4% per Annum(p.a.) for 3 years

$10 000 at 3.5% p.a. for 3 years

$18 100 at 5.1% Semi Annually for 5 years

$4900 at 8.0% p.a. for 100 days

Equivalent Values/Focal Date Practice 6. Payments of 4000 each due in four, eight and twelve months respectively are to be settled by a single payments due today if the interest rate is 4.7%?

7. Your car payments are $800 a month. You have missed your car payment last month and remembered today when your next one is due. If interest is 3.9%, how much do you need to pay to be in good standing on your account? (Hint you have two payments).

8. You just got a $10000 bonus from work and are lucky because you realize you missed a credit card payment from 3 months ago and have not used the card since. The balance on the account was $1500 and interest rate is 12.5%. There may be some money left over and were thinking to paying off your student loan of $6000 that is due in 6 months and has an interest rate of 3.5%. How much of your bonus is left over after the two payments?...