Lesson: Simple Interest
In this lesson, we will learn how to solve problems on simple interest.
Sample Question Videos
Worksheet: 16 Questions • 3 Videos
Scarlett invests into an Individual Savings Account at the beginning of the year. An interest rate of is paid monthly on the balance in the account. How much money does Scarlett have in her Individual Savings Account at the end of the year if no other deposits or withdrawals are made and the interest rate stays constant?
Daniel and Ethan work at two different companies. Daniel is paid in the first year and gets a pay increase each year. Ethan is paid in the first year and gets an increase of every two years. Who is paid the most in the tenth year?
Benjamin deposited $2,420 in a savings account, and it earned $363.00 in simple interest after five years. Find the interest rate on Benjamin’s savings account.