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MATH 1320 -
Section 5.1 Simple Interest
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The University of Texas at El Paso
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Math 1320 Name: D. Wilson Section 5.1 Simple Interest #1. a. What is the formula for simple interest? b. Why is this formula not very practical, yet very important? #2. Compute the simple interest for the specified period and the future value at the end of the period. Round all answers to the nearest cent. $7000 is borrowed for 4 months at 19.1% per year. #3. Find the present value of an investment that earns 2.25% per year and is worth $6450 after 8 years.#4. (Section 5.1, #16) #5. (Section 5.1,
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