COMPOUND AND SIMPLE INTEREST

Front

Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25%. He plans to keep it in the account for the next 10 years. How much interest would he gain in the account after 10 years?

Back

$50

Front

Rosa invests her tax return check into an account with a compounded interest rate of 1 3/4 %. She plans on keeping the account open for 12 years. If she has $1600.87 in her account at the end of 12 years, approximately how much was her initial investment? Options: $1,300, $1,970, $7,690, $11,000

Back

$1,300

Front

Megan wants to invest $2000 in a simple interest account at 3.5% to gain $490. How many years will it take? Options: 5 years, 6 years, 7 years, 8 years.

Back

7 years

Front

Jose wants to invest $3000 in a compound interest account with a 3% interest rate for 12 years. What would be his account balance?

Back

$4,277.28

Front

A simple interest account earns $75 at a rate of 1.5% over 5 years. What was the principal amount?

Back

$1,000

Front

A compound interest account has accrued an account balance of $1,159.27 over 5 years with an interest rate of 3%. What is the closest principal amount? Options: $1,000, $1,300, $300, $4,300

Back

$1,000

Front

How much more interest is earned if $8,500 is invested into an account paying compound interest of 4% for 6 years compared to investing the $8,500 into an account paying simple interest of 4.5% for 5 years?

Back

$342.71

Front

David invests $10,000 in a savings account that pays 3.5% simple interest. How much will be in the account after 7 years?

Back

$12,450

Front

Garrison deposited $500 in an account that earns 5% annual interest compounded annually. How much interest will the account earn after 4 years?

Back

$107.75

Front

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200