Calculate the Simple Interest for the Following Word Problems:

1. How much interest does a $318 investment earn at 9% over one year?

2. If you borrow $675 for six years at an interest rate of 10%, how much interest will you pay?

3. If you borrow $421 for nine years at an interest rate of 4%, how much interest will you pay?

4. If the balance at the end of eight years on an investment of $630 that has been invested at a rate of 9% is $1,083.60, how much was the interest?

5. If you borrow $225 for eight years at an interest rate of 6%, how much interest will you pay?

6. If the balance at the end of eight years on an investment of $230 that has been invested at a rate of 3% is $285.20, how much was the interest

7. How much interest does a $407 investment earn at 6% over seven years?

8. If you borrow $491 for one year at an interest rate of 3%, how much interest will you pay?

9. How much interest is earned on a principal of $646 invested at an interest rate of 5% for two years?

10. How much interest is earned on $470 at 4% for seven years?

You'll find the simple interest formula here.