Algebra 1 : Algebra 1
Study concepts, example questions & explanations for Algebra 1
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Example Questions
Example Question #2 : How To Find Simple Interest
If a woman invests $2000 into a fund that has 5% annual interest, how much many can she expect to make from her investment, after 2 years?
To calculate the amount of interest she earned, we use the formula:
Plug the given values into the above formula:
Remember, when calculating interest, percents needed to be converted to decimals.
Example Question #1 : How To Find Simple Interest
Sal invests $2000 in a fund and after a year, earns $140 of interest. What is the interest rate for the fund Sal invested in?
To calculate the percent interest of Sal's account, we arrange the simple interest formula:
Solve for the interest rate,
Plug in the appropriate values
Simplify.
Example Question #51 : Monetary Percentage
Steve wants to earn $300 from the interest on his investments. If he invests $2000 in a fund with 5% interest per year, how long will Steve have to wait for the interest to be worth $300?
To solve this problem, we use the equation for simple interest:
Since we know how much Steve has invested, how much interest he is looking to make, and his interest, we are solving for 
Plug in the appropriate values and solve:
Example Question #1 : How To Find Simple Interest
Oscar spent 
To find the percent interest, we want to determine the cash value,of the interest and divide that by the card balance before interest was accrued:
Example Question #51 : Monetary Percentage
Oscar takes out a loan from the bank for 
The monthly interest rate is the percent of the principal value of the loan 
Example Question #2711 : Algebra 1
Carly invested 
The first step of this problem is to determine the increased balance in the savings account:
Now that we know the end balance, we can determine the amount left after withdrawal, which should be 
Example Question #2712 : Algebra 1
Eric used his credit card for a car repair with a total cost of 
The monthly interest rate is the percent of the principal value of the loan 
Example Question #54 : Monetary Percentage
Jennifer took out a personal loan from the bank for 
First we want to calculate the accrued annual interest. At 
Accured interest plus the loan amount:
We can now calculate the remaining balance after payment as such:
Example Question #2713 : Algebra 1
Cody has fallen behind on his student loan payments and has not made a payment in a year. The original balance of 
To calculate next year's balance with added interest, we want to know the interest rate. We can determine this by dividing the interest already accrued by the initial loan balance:
Now that we know the annual interest rate, we can calculate the balance after one year with interest:
Once we've calculated the interest, we can add it to our starting balance to calculate the new balance with added interest:
Example Question #2714 : Algebra 1
Brenda forgot to pay her monthly credit card bill (oops!) and her balance increased to 
To find the original balance, we can use a simple interest formula, with our initial balance being 
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