Calculate Interest

Suppose you purchase a new laptop from Best Buy that costs $1,290, but the store is offering a deal of 0% interest for 6 months. How much will you pay in interest if you pay off the laptop before the 6 months up?

Calculate the simple interest of a $3,000 loan with an interest rate of 3% per year. The duration of the loan is 5 years.

Calculate the annual amount of interest you will earn on the $5,000 you have in a savings account when you earn 2.5% interest per year.

Stephanie has $10,000 in a savings account that earns 1.75% annually. How much interest will she earn after 4 years?

You take out a loan on the mattress you purchased from Mattress Firm. If the mattress cost $5,670 and the interest rate is 0% for 6 months, how much will you pay in interest after 6 months?

True or false: The higher the interest rate (%) the more you will earn or pay.

An amount paid (or earned) for the use of money.