Simple & Compound Interest

Front

Gabby invested $100 into a savings account with a simple interest rate of 1.5% for ten years. How much will she have at the end?

Back

$115

Front

Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25% for 10 years. How much interest would he gain after 10 years?

Back

$50

Front

Jose invests $200 into an account at a rate 2%. He plans on keeping the account open for 15 years. If it is a compound interest account, about how much money will he have in the account after 15 years?

Back

$270

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?

Back

7 years

Front

Clay has 5 years to save money for a car. He wants to invest $800 in the bank. He has 2 banks to choose from. Wells Fargo offers a simple interest account with a rate of 4%. Chase Bank offers a compound interest account with a rate of 4%. Which bank will provide Clay with the most money after 5 years?

Back

Chase Bank

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 at an interest rate of 3%. What is the closest principal amount? Options: $1,000, $1,300, $300, $4,300

Back

$1,000

Front

If Lana deposits $500 into a savings account that gains simple interest at a rate of 2% annually, how many years will it take for the account to gain $100 in interest? Options: 8 years, 9 years, 10 years, 11 years

Back

10 years