GRE Quantitative Reasoning › How to find simple interest
What is the simple interest rate on an account that accrued after a year if the original deposit was
? Round your answer to the nearest hundredth.
If a student borrows $200,000 at an interest rate of 6% compounded annually, when she graduates in 4 years how much money will she owe? Round to the nearest dollar.
Harry borrowed $5000 from his parents at a rate of simple interest of 2% annually and paid it back in full in 30 months. What is the total amount of interest and principal his parents charged him?
What is the interest rate on an account if an original balance of rises to
after one year if it is only compounded yearly?