9th Grade Simple and Compound Interest Worksheet — Level 1 — Practice Set 3 — 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 3 — 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 $4,750.00 invested at 8% per year for 6 years. What is the total value at the end?
Answer: Interest $2,280.00; total $7,030.00
- I = P × r × n = $4,750.00 × 0.08 × 6
- = $2,280.00
- Total = $4,750.00 + $2,280.00 = $7,030.00
2.Find the simple interest on $9,750.00 invested at 4.5% per year for 6 years. What is the total value at the end?
Answer: Interest $2,632.50; total $12,382.50
- I = P × r × n = $9,750.00 × 0.045 × 6
- = $2,632.50
- Total = $9,750.00 + $2,632.50 = $12,382.50
3.Find the simple interest on $10,250.00 invested at 2.5% per year for 2 years. What is the total value at the end?
Answer: Interest $512.50; total $10,762.50
- I = P × r × n = $10,250.00 × 0.025 × 2
- = $512.50
- Total = $10,250.00 + $512.50 = $10,762.50
4.Find the simple interest on $6,250.00 invested at 4.5% per year for 3 years. What is the total value at the end?
Answer: Interest $843.75; total $7,093.75
- I = P × r × n = $6,250.00 × 0.045 × 3
- = $843.75
- Total = $6,250.00 + $843.75 = $7,093.75
5.Find the simple interest on $6,500.00 invested at 5% per year for 5 years. What is the total value at the end?
Answer: Interest $1,625.00; total $8,125.00
- I = P × r × n = $6,500.00 × 0.05 × 5
- = $1,625.00
- Total = $6,500.00 + $1,625.00 = $8,125.00
6.Find the simple interest on $7,500.00 invested at 5% per year for 5 years. What is the total value at the end?
Answer: Interest $1,875.00; total $9,375.00
- I = P × r × n = $7,500.00 × 0.05 × 5
- = $1,875.00
- Total = $7,500.00 + $1,875.00 = $9,375.00
7.Find the simple interest on $10,750.00 invested at 2% per year for 6 years. What is the total value at the end?
Answer: Interest $1,290.00; total $12,040.00
- I = P × r × n = $10,750.00 × 0.02 × 6
- = $1,290.00
- Total = $10,750.00 + $1,290.00 = $12,040.00
8.Find the simple interest on $3,500.00 invested at 6% per year for 5 years. What is the total value at the end?
Answer: Interest $1,050.00; total $4,550.00
- I = P × r × n = $3,500.00 × 0.06 × 5
- = $1,050.00
- Total = $3,500.00 + $1,050.00 = $4,550.00
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