Applied Math 20 23 Kuta Software LLC. Name All rights reserved . Simple Interest Practice Date List the formulas. 1) Simple Interest 2) Future Value for Simple Interest I = Prt - lime in Yus A = P(1txt ) interest 7 Principle months account Find the simple interest owed for the use of the money. Assume 360 days in a year. valve 3) P = $4000, r = 6%, t = 1 year 4) P= $7000, r = 5%, t = 1 year I = Put 4000 . 0.06 . 1 = #240 5) P = $180, r = 3%, t = 2 years 6) P= $260, r = 4%, t = 3 years 7) P = $5000, r = 8.5%, t = 9 months 8) P = $18000, r = 7.5%, t = 18 months 9) P = $15500, r = 11%, t = 90 days 10) P= $12600, r = 9%, t = 60 days Find the loan's future value. 11) P= $3000, r = 7%, t = 2 years 12) P = $2000, r = 6%, t = 3 years A = P ( 1+ + ) = 3000 ( 140 . 0 7 ( 2 ) ) = $ 3420 13) P= $26000, r =9.5%, t = 5 years 14) P = $24000, r = 8.5%, t = 6 years 15) P= $9000, r = 6.5%, t = 8 months 16) P= $6000, r = 4.5%, t = 9 months Determine the loan's simple interest to the nearest tenth of a percent. (Use future value formula) 17) P = $2000, A = $2150, t = 1 year 18) P= $3000, A = $3180, t = 1 year A = P (Itx+ ) 1. 075 21SQ = 2000 (L trl 2000 7. 5%% ) 19) P = $5000, A = $5900, t = 2 years 20) P = $10000, A = $14060, t = 2 years 21) P = $2300, A = $2840, t = 9 months 22) P = $1700, A = $1820, t = 6 months 2023 Kuta Software LLC. All rights reserved . Made with Infinite Algebra 2