Practice HW for Friday quiz -- show work
Name __________________________________
I = prt formula review
7. You deposit $2,500 in an account that earns 4% simple interest. How long will it be before the total amount is $3,000?
8. You deposit $5,000 in account that earns 6.5% simple interest. How much will be in the account after 3 years?
9. A deposit of $10,000 was made to an account the year you were born. After 12 years, the account is worth $16,600.
What simple interest rate did the account earn?
10. How long will it take for $6,500 to double at a simple interest rate of 7%? Round to the nearest tenth of a year.
Review steps for finding % increase/decrease -- show work
9. Mr. Havel bought a car for $2400 and sold it for $2700. What was the percent of profit for Mr. Havel in selling the car?
10. A gallery owner purchased a very old painting for $3,000. The painting sells at a 325% increase in price. What is the
retail price of the painting?
11. A manufacturing company with 450 employees begins a new product line and must add 81 more employees. What is
the percent of increase in the number of employees?
12. Richard earns $2700 a month. He received a 3% raise. What is Richard’s new annual salary?
13. A computer store buys a computer program for $24 and sells it for $91.20. What is the percent of increase in the
price?