Percents: Calculating Simple Interest

Calculate the simple interest. 

1. You deposit $450 in an account that earns simple interest at an annual rate of 4.5%.  How much simple interest will you earn after 2 years?

2. Principal: \$220

   Annual Rate: 3.75%

    Time: 4 years

3. Principal: \$150

    Annual Rate: 2%

    Time: 2 years

4. James deposited \$2,000 in a savings account at the interest rate of 4% per year. How much simple interest will he earn in 5 years?

5. Principal: \$850

    Annual Rate: 3%

    Time: 3 years

6. Bill invested \$1,500 in an account that paid him 8.25% simple interest. What will the balance of his account be after 6 years?

7. Principal: \$1,800

    Annual Rate: 1.5%

    Time: 18 months

8. Mr. Tamrakar wrote a check of \$7,820 to pay off a loan, which was given to him at a rate of 5% simple interest for 3 years. How much money did he borrow originally?

9. Principal: \$250

    Annual Rate: 5%

    Time: 6 months

10. What is the simple interest owed on \$300 borrowed for 4 months at an annual interest rate of 5%?

11. Principal: \$130

      Annual Rate: 6.25%

      Time: 15 months

12. You deposit \$500 in a savings account that pays a simple interest rate of 2.5% per year.  How much interest will you earn after 18 months?