Simple Interest

Tests
Test 1     Test 2     Test 3     Test 4     Test 5     Test 6     Test 7     Test 8     Test 9     Test 10

Sample
Simple Interest [Test 1]
 1) Matt's current bank balance is \$9,600.00. Bank offers a simple interest with monthly rate of 1.67 %. Interest earned is computed and deposited every years. What was the bank balance years ago? \$
 2) Jasmine's current bank balance is \$199,092.00. Bank offers a simple interest with monthly rate of 1.92 %. Interest earned is computed and deposited every years. What was the bank balance years ago? \$
 3) Matt's current bank balance is \$70,272.00. Bank offers a simple interest with monthly rate of 1.00 %. Interest earned is computed and deposited every years. What was the bank balance years ago? \$
 4) George lended \$111,600.00 to a friend with anual interest rate of 15.00 %. What is the total amount George will receive after 7 months. The interest is computed as simple interest and is not compunded. \$
 5) Max borrowed \$27,600.00 from the bank with anual interest rate of 12.00 %. What would be the total amount that Max need to pay after 6 years. \$
 6) A local bank offers a fix deposit scheme with maturity of 8 years and monthly interest rate of 1.83 %. Interest is computed only once at the maturity date as a simple interest. Mr. B deposited \$96,000.00 in that scheme. How much interest money would Mr. B earn? \$
 7) Matt lended \$104,400.00 to a friend with anual interest rate of 15.00 %. What is the total amount Matt will receive after 3 months. The interest is computed as simple interest and is not compunded. \$
 8) Jacob borrowed \$108,000.00 from the bank with anual interest rate of 5.00 %. What would be the total amount that Jacob need to pay after 7 years. \$
 9) Mr. B received a total of \$17,280.00 from the bank. The bank paid the simple interest with yearly rate of 10.00 %. How many years ago did Mr. B deposited \$9,600.00?
 10) Val received a total of \$95,040.00 from the bank. The bank paid the simple interest with yearly rate of 20.00 %. How many years ago did Val deposited \$39,600.00?