9th Grade Simple and Compound Interest Worksheet — Level 1 — Answers
Answer sheet with worked solutions for the 9th Grade financial math worksheet.
Success TutoringWorksheetsAnswer sheet9th Grade · Mathematics · Financial Mathematics9th Grade Simple and Compound Interest Worksheet — Level 1 — Answers
Show your work. Write the rate as a decimal (5% = 0.05). Round money to the nearest cent.
1.Find the simple interest on $15,000.00 invested at 2% per year for 2 years. What is the total value at the end?
Answer: Interest $600.00; total $15,600.00
- I = P × r × n = $15,000.00 × 0.02 × 2
- = $600.00
- Total = $15,000.00 + $600.00 = $15,600.00
2.Find the simple interest on $8,750.00 invested at 2% per year for 5 years. What is the total value at the end?
Answer: Interest $875.00; total $9,625.00
- I = P × r × n = $8,750.00 × 0.02 × 5
- = $875.00
- Total = $8,750.00 + $875.00 = $9,625.00
3.Find the simple interest on $11,500.00 invested at 2% per year for 5 years. What is the total value at the end?
Answer: Interest $1,150.00; total $12,650.00
- I = P × r × n = $11,500.00 × 0.02 × 5
- = $1,150.00
- Total = $11,500.00 + $1,150.00 = $12,650.00
4.Find the simple interest on $13,250.00 invested at 2% per year for 4 years. What is the total value at the end?
Answer: Interest $1,060.00; total $14,310.00
- I = P × r × n = $13,250.00 × 0.02 × 4
- = $1,060.00
- Total = $13,250.00 + $1,060.00 = $14,310.00
5.Find the simple interest on $10,000.00 invested at 4.5% per year for 6 years. What is the total value at the end?
Answer: Interest $2,700.00; total $12,700.00
- I = P × r × n = $10,000.00 × 0.045 × 6
- = $2,700.00
- Total = $10,000.00 + $2,700.00 = $12,700.00
6.Find the simple interest on $6,000.00 invested at 4% per year for 2 years. What is the total value at the end?
Answer: Interest $480.00; total $6,480.00
- I = P × r × n = $6,000.00 × 0.04 × 2
- = $480.00
- Total = $6,000.00 + $480.00 = $6,480.00
7.Find the simple interest on $10,750.00 invested at 2% per year for 5 years. What is the total value at the end?
Answer: Interest $1,075.00; total $11,825.00
- I = P × r × n = $10,750.00 × 0.02 × 5
- = $1,075.00
- Total = $10,750.00 + $1,075.00 = $11,825.00
8.Find the simple interest on $10,250.00 invested at 2% per year for 5 years. What is the total value at the end?
Answer: Interest $1,025.00; total $11,275.00
- I = P × r × n = $10,250.00 × 0.02 × 5
- = $1,025.00
- Total = $10,250.00 + $1,025.00 = $11,275.00
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