## Exercise 1

How long does it take a principal of 30,000?

## Exercise 2 52,500. Calculate the simple interest rate for this account.

## Exercise 3

Determine the simple interest rate applied to a principal over 20 years if the total interest paid equals the borrowed principal.

## Exercise 4

How long does it take a principal payment to triple at a simple interst rate of 6%?

## Exercise 5

Find the total amount of simple interest that is paid over a perod of five years on a principal of 10,000 at a simple interest rate of 3.5%.

## Solution of exercise 1

How long does it take a principal of 30,000?  ## Solution of exercise 2 52,500. Calculate the simple interest rate for this account.

360 + 120 + 20 = 500 days

I = 52 500 − 45 000 = 30,000 at a simple interest rate of 6%. ## Solution of exercise 6

Calculate the total worth of an investment after six months with a principal of \$10,000 at a simple interest rate of 3.5%.  Did you like the article?     (1 votes, average: 5.00 out of 5) Loading...

Emma

I am passionate about travelling and currently live and work in Paris. I like to spend my time reading, gardening, running, learning languages and exploring new places.

Did you like
this resource?

Bravo! 