1) $3,400 loan with a simple interest rate 5.25% for 6 years. What is the interest paid?  a) $10,710.00 b) $1,071.00 c) $4,471.00 d) $107,100.00 2) $3,400 loan with a compound interest rate 5.25% for 6 years. What is the interest charged?  a) $1221.80 b) $1071.00 c) $4471.00 d) $4,621.80 3) $10,500 loan with a simple interest rate 6.5% for 3 years. What is the total amount of the loan? a) $2,047.50 b) $125,475.00 c) $12,547.50 d) $12,683.47 4) $10,500 investment with a compound interest rate 6.5% for 3 years. What is the total amount in the account? a) $12,547.50 b) 12,683.47 c) $125,475.00 d) $2,047.50 5) $7,250 deposit with a compound interest rate 6% for 10 years. What is the interest earned? a) $12,983.65 b) $4350.00 c) $11,600.00 d) $5733.65

Simple and Compound Interest

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