ACP Simple & Compound interest Review

Front

Steven deposits $700 at 4.8% interest compounded annually. Linda deposits $800 at 7.7% simple interest. After 7 years, which account has more and by how much?

Back

Linda by $259.29

Front

Don’s father deposited $3,500 into a CD with an interest rate of 0.32% compounded annually. How much will it be worth when Don turns 25?

Back

$3,660.10

Front

How much interest will a $8,000 CD earn at 4% simple interest over 12 years?

Back

$3,840

Front

Sonya deposits $590 at 6.3% interest compounded annually. Tommy deposits $315 at 7.9% simple interest. After 4 years, which account has more and by how much?

Back

Sonya by $338.79

Front

Terry’s mother deposits $9,000 in a CD at 3% simple interest annually for 7 years. How much interest will it earn?

Back

$1,890

Front

Sydney deposits $990 at 3.8% interest compounded annually. Robin deposits $515 at 2.2% simple interest. After 13 years, which account has more and by how much?

Back

Sandy by $945.39

Front

How much interest will a $5,400 deposit in a CD earning 6.9% simple interest annually earn over 12 years?

Back

$4,471.30

Front

How much more will Mindy’s mother pay in interest if she chooses to borrow $11,000 from Company 2 at 4.5% interest compared to Company 1 at 1.25% interest over 3 years?

Back

$1,072.5

Front

Larry deposits $930 at 3.7% interest compounded annually. Lia deposits $515 at 2.3% simple interest. After 12 years, which account will have more and by how much?

Back

$781.09

Front

Sindy’s mother plans to borrow $13,500 for 3 years. Company 1: 1.25% interest, Company 2: 4.5% interest. Both use simple interest. How much more interest with Company 2?

Back

$1,316.25