Name: ***FOR QUESTIONS 3 - 8 please IDENTIFY EACH VARIABLE before solving*** 3. If $5,000 is invested for 7 years at 6.5% interest: a) How much interest is earned? [4 K] b) What is the total value of the investment after 7 years? [1 K] 4. If a $6,200 investment earns $2,015 in interest over a period of 5 years, what was the simple interest rate on the investment? Express as a percent! [3 A] 5. If an investment earns $1,231.25 in interest over a 10 year period, invested at 1.25% simple interest, what was the value of the original investment? [3 A] 6. If an $1,800 investment earns $4,320 in interest at 12% simple interest, how long was the money invested? [3 A] 7. If a $10,000 investment grows to $12,000 in 30 months, what percent interest was the investment earning? [4 A]