Lesson: Simple Interest
In this lesson, we will learn how to solve problems on simple interest.
Sample Question Videos
Worksheet: 10 Questions • 1 Video
David deposited $500 in his new bank account at a simple interest rate of . If he made no further deposits or withdrawals, how much money will be in his account after years?
Find the simple interest earned in a savings account given that $552 is deposited for 7 months with an interest rate of per year.
Benjamin had $820,000. He paid $250,000 in taxes and invested the rest in a savings account with a simple interest. Determine the amount of money in Benjamin’s account if he makes no deposits or withdrawals for two years.