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Question 1 of 5Solve each problem:
A certain amount is deposited in a savings account which pays 10% annual simple interest for the first year, 11% for the second, and 12% for the third. If at the end of the third year, a total of $22,440 was earned in simple interest, what was the original amount invested?
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Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
$71,250
B
$25,250
C
$68,000
D
$55,300
E
28,221
Question 2 of 5Solve each problem:
Rob purchases a car using a 7-year special loan package. The loan package allows him to pay only simple interest for the first two years of the loan, followed by five years of normally structured payments (principal and simple interest). Throughout the loan, he will pay a rate of 18% annual simple interest. If at the end of the interest-only period, the total payments were $6930, how much was the amount of the car loan?
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Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
$28,225
B
$27,500
C
$19,250
D
$19,950
E
$29,225
Question 3 of 5Solve each problem:
Betty has $40,000 to invest. After meeting with a financial planner, she decides to invest some of the money in a savings account paying 4% annual simple interest and the remainder of the money in an annuity which pays 6% annual simple interest. If she wants to earn a total amount of $2040 from these two investments each year, how much should be invested at each rate?
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Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
$18,000 - Savings Account, $22,000 - Annuity
B
$8,000 - Savings Account, $32,000 - Annuity
C
$32,000 - Savings Account, $8,000 - Annuity
D
$22,000 - Savings Account, $18,000 - Annuity
E
$15,000 - Savings Account, $25,000 - Annuity
Question 4 of 5Solve each problem:
Aria arranged a meeting with her local financial planner and decided she needs to earn a total of 5.5% annual simple interest between two investments. She decided to invest $15,000 in a savings account, which pays 6% annual simple interest. Additionally, she decided to invest in a government bond fund, which pays 4% annual simple interest. How much should she invest in the bond fund to achieve her investment goals?
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Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
$5000
B
$8250
C
$1175
D
$10,250
E
$1250
Question 5 of 5Solve each problem:
Last year, Bob earned a total of $1440 in simple interest from two investments. He invested part of his money in bonds, which pay 3.5% annual simple interest and $5000 more than 3 times this amount in private equity funds, which pay 4% annual simple interest. How much money did Bob invest in each?
Finish »
Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
Bonds - $28000, Private Equity Funds - $4,500
B
Bonds - $8000, Private Equity Funds - $29,000
C
Bonds - $1500, Private Equity Funds - $58,250
D
Bonds - $12,000, Private Equity Funds - $29,850
E
Bonds - $7000, Private Equity Funds - $34,925

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