1. Mr. Smith deposited $40,000 in a bank and earned simple interest at 7% per annum for two years. Calculate the interest earned at the end of the period.
Discuss
A. $ 4000
B. $2800
C. $5600
D. $3400
E. $200
2. How much simple interest is due on a loan of US$120 for two years if the annual rate of interest is 5%
A. $12
B. $13.20
C. $26.40
D. $26
E. $33
3. A man wishes to invest $1500. He can invest in ulintplus Investment club which pays simple
interest of 8%for 3 years. What is the amount in his account after 3 years
A. $18321
B. $1860
C. $1830
D. $1524
E. $5024