Lesson 8 Extra Practice Financial Literacy: Simple Interest
Find the simple interest earned to the nearest cent for each principal,
interest rate, and time.
1. $2,000, 8%, 5 years $800 2. $500, 10%, 8 months $33.33 3. $750, 5%, 1 year $37.50
4. $175.50, 61
2%, 18 months $17.11 5. $236.20, 9%, 16 months $28.34 6. $89, 71
2%, 6 months $3.3
7. $800, 5.75%, 3 years $138 8. $225, 11
2%, 2 years $6.75 9. $12,000, 41
2%, 40 months
$1,800
Find the simple interest paid to the nearest cent for each loan amount,
interest rate, and time.
10. $750, 18%, 2 years $270 11. $1,500, 19%, 16 months $380 12. $300, 9%, 1 year $27

13. $4,750, 19.5%, 30 months 14. $2,345, 17%, 9 months $298.99 15. $689, 12%, 2 years $165.36
$2,315.63
16. $390, 18.75%, 15 months 17. $1,250, 22%, 8 months $183.33 18. $3,240, 18%, 14 months