Fill in the unknown values for the simple interest problems in the following tab

Question

Fill in the unknown values for the simple interest problems in the following table:

(2 marks each)

Interest (I)

Principal (P)

Rate (R)

Time (T)

1.

?

$1500

6%

8 years

2.

?

$2950

7.25%

24 months

3.

$415

?

3.4%

5 years

4.

$610

?

9.1%

9 years, 6 months

5.

$225

$3000

?

4 years

6.

$175

$2250

?

3.5 years

7.

$700

$8500

4%

?

8.

$665

$5500

5.75%

?

Interest (I)

Principal (P)

Rate (R)

Time (T)

1.

?

$1500

6%

8 years

2.

?

$2950

7.25%

24 months

3.

$415

?

3.4%

5 years

4.

$610

?

9.1%

9 years, 6 months

5.

$225

$3000

?

4 years

6.

$175

$2250

?

3.5 years

7.

$700

$8500

4%

?

8.

$665

$5500

5.75%

?

Explanation / Answer

Answer:

Interest (I) Principal (P) Rate (R) Time (T) 1 720 $1,500 6% 8 years 2 427.75 $2,950 7.25% 24 months 3 $415 2441.17 3.40% 5 years 4 $610 705.61 9.10% 9 years, 6 months 5 $225 $3,000 1.88% 4 years 6 $175 $2,250 2.22% 3.5 years 7 $700 $8,500 4% 2.06 8 $665 $5,500 5.75% 2.1

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