Simple and Compound Interest Test

Front

Formula for Simple Interest

Back

Front

Formula for Compound Interest

Back

Front

P= $34,100 R= 4% T= 3 years

Back

$38,192

Front

Sam borrows $210 for 7 years at an interest rate of 8%. How much interest will he pay?

Back

$117.60

Front

If you borrow $4,000 for 4 years at an interest rate of 3%, how much TOTAL will you pay? ( Total= P + I )

Back

$4,480

Front

If you borrow $1,900 for 2.5 years at an interest rate of 5.9%, how much interest will you pay?

Back

$280.25

Front

Deposit $7,400 for 4 years at 10.5% interest. Calculate total savings (Total = P + I).

Back

$10,508

Front

3-year investment of $7,300 at 7% interest compounded semiannually. Find the total return using the Compound Interest Formula.

Back

$8,973.56

Front

Use Compound Interest Formula to find the ending balance.
Your 4 year investment of $21,000 received 13.6% interest compounded quarterly. What is your total return?

Back

$35,854.90

Front

Use Compound Interest Formula to find the ending balance. Your 2 year investment of $1,030 received 4% interest compounded semiannually. What is your total return?

Back

$1,114.91