1) Devante paid a security deposit of $525 when he signed the lease for his apartment. The money was put into an account earning 2% simple annual interest. After renting for 8 years, Devante got his deposit back. What was the payout balance?
A) $441
B) $532
C) $595
D) $609
2) Russell deposited $650 in a savings account that earns 3% simple annual interest. If he makes no other deposits or withdraws, what will the balance of Russell's account be after 6 years?
A) $117
B) $659
C) $767
D) $1,170
3) Karim borrowed $120 from his older brother for the purchase of a skateboard. He promised to pay back the loan in 6 months at a simple annual interest rate of 15%. How much will Karim owe his brother at that time?
A) $108
B) $129
C) $138
D) $228|||609 is your answer for number 1
767 is your answer for number 2
138 is your answer for number 3|||Simple Interest= (principle)*(rate)*(time)
It would take you literally less than 2 minutes to work these through with a calculator.
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