Simple Interest HW #22 due Friday (all classes

Find the total amount of interest paid on the following loans rounded to the nearest cent.
1) $5,432 borrowed at an annual interest of 6.2% interest for 3 years.

2) $4,500 borrowed at 5.5% interest for 4 and a half years.

3) $3,680 borrowed at 6.75% interest for 2.25 years

4) 5.5% percent interest for 1.75 years on $2543

5) Bob buys a car that cost $21,000. He makes a down payment of $4,000 on the day he purchases it but finances the balance. He takes out a 5 year loan with an interest rate of 6.75%. How much does Bob have to pay back to the bank in total?

6) Patricia opens up a credit card at Best Buy to buy an entertainment system. The entertainment system costs $2700. She plans to pay off her bill in 2 years. The annual interest rate on the card is 18%. How much interest does Patricia pay?

7) Juan has saved $5,000 and wants to invest the money in the stock market. The average return of the stock market over the past 20 years has been 11%. Using simple interest, and assuming Juan gets the average return on his money, what will his 5,000 be worth in 5 years?