9th Grade Simple and Compound Interest Worksheet — Level 1 — Practice Set 2 — 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 — Practice Set 2 — 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 $1,750.00 invested at 4% per year for 6 years. What is the total value at the end?
Answer: Interest $420.00; total $2,170.00
- I = P × r × n = $1,750.00 × 0.04 × 6
- = $420.00
- Total = $1,750.00 + $420.00 = $2,170.00
2.Find the simple interest on $3,250.00 invested at 8% per year for 2 years. What is the total value at the end?
Answer: Interest $520.00; total $3,770.00
- I = P × r × n = $3,250.00 × 0.08 × 2
- = $520.00
- Total = $3,250.00 + $520.00 = $3,770.00
3.Find the simple interest on $14,250.00 invested at 4.5% per year for 4 years. What is the total value at the end?
Answer: Interest $2,565.00; total $16,815.00
- I = P × r × n = $14,250.00 × 0.045 × 4
- = $2,565.00
- Total = $14,250.00 + $2,565.00 = $16,815.00
4.Find the simple interest on $11,500.00 invested at 4.5% per year for 6 years. What is the total value at the end?
Answer: Interest $3,105.00; total $14,605.00
- I = P × r × n = $11,500.00 × 0.045 × 6
- = $3,105.00
- Total = $11,500.00 + $3,105.00 = $14,605.00
5.Find the simple interest on $13,500.00 invested at 3% per year for 2 years. What is the total value at the end?
Answer: Interest $810.00; total $14,310.00
- I = P × r × n = $13,500.00 × 0.03 × 2
- = $810.00
- Total = $13,500.00 + $810.00 = $14,310.00
6.Find the simple interest on $10,000.00 invested at 5% per year for 3 years. What is the total value at the end?
Answer: Interest $1,500.00; total $11,500.00
- I = P × r × n = $10,000.00 × 0.05 × 3
- = $1,500.00
- Total = $10,000.00 + $1,500.00 = $11,500.00
7.Find the simple interest on $7,250.00 invested at 6% per year for 6 years. What is the total value at the end?
Answer: Interest $2,610.00; total $9,860.00
- I = P × r × n = $7,250.00 × 0.06 × 6
- = $2,610.00
- Total = $7,250.00 + $2,610.00 = $9,860.00
8.Find the simple interest on $12,250.00 invested at 3% per year for 3 years. What is the total value at the end?
Answer: Interest $1,102.50; total $13,352.50
- I = P × r × n = $12,250.00 × 0.03 × 3
- = $1,102.50
- Total = $12,250.00 + $1,102.50 = $13,352.50
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