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9th Grade Simple and Compound Interest Worksheet — Level 1 — Practice Set 4 — Answers

Answer sheet with worked solutions for the 9th Grade financial math worksheet.

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Success TutoringWorksheetsAnswer sheet9th Grade · Mathematics · Financial Mathematics

9th Grade Simple and Compound Interest Worksheet — Level 1 — Practice Set 4 — 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 $7,000.00 invested at 4.5% per year for 2 years. What is the total value at the end?

Answer: Interest $630.00; total $7,630.00

  1. I = P × r × n = $7,000.00 × 0.045 × 2
  2. = $630.00
  3. Total = $7,000.00 + $630.00 = $7,630.00
2.Find the simple interest on $12,250.00 invested at 8% per year for 4 years. What is the total value at the end?

Answer: Interest $3,920.00; total $16,170.00

  1. I = P × r × n = $12,250.00 × 0.08 × 4
  2. = $3,920.00
  3. Total = $12,250.00 + $3,920.00 = $16,170.00
3.Find the simple interest on $13,000.00 invested at 2.5% per year for 6 years. What is the total value at the end?

Answer: Interest $1,950.00; total $14,950.00

  1. I = P × r × n = $13,000.00 × 0.025 × 6
  2. = $1,950.00
  3. Total = $13,000.00 + $1,950.00 = $14,950.00
4.Find the simple interest on $5,750.00 invested at 8% per year for 2 years. What is the total value at the end?

Answer: Interest $920.00; total $6,670.00

  1. I = P × r × n = $5,750.00 × 0.08 × 2
  2. = $920.00
  3. Total = $5,750.00 + $920.00 = $6,670.00
5.Find the simple interest on $9,500.00 invested at 2.5% per year for 6 years. What is the total value at the end?

Answer: Interest $1,425.00; total $10,925.00

  1. I = P × r × n = $9,500.00 × 0.025 × 6
  2. = $1,425.00
  3. Total = $9,500.00 + $1,425.00 = $10,925.00
6.Find the simple interest on $3,250.00 invested at 4.5% per year for 2 years. What is the total value at the end?

Answer: Interest $292.50; total $3,542.50

  1. I = P × r × n = $3,250.00 × 0.045 × 2
  2. = $292.50
  3. Total = $3,250.00 + $292.50 = $3,542.50
7.Find the simple interest on $11,500.00 invested at 3% per year for 6 years. What is the total value at the end?

Answer: Interest $2,070.00; total $13,570.00

  1. I = P × r × n = $11,500.00 × 0.03 × 6
  2. = $2,070.00
  3. Total = $11,500.00 + $2,070.00 = $13,570.00
8.Find the simple interest on $3,500.00 invested at 6% per year for 2 years. What is the total value at the end?

Answer: Interest $420.00; total $3,920.00

  1. I = P × r × n = $3,500.00 × 0.06 × 2
  2. = $420.00
  3. Total = $3,500.00 + $420.00 = $3,920.00
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