Simple and Compound Interest Practice

Front

Interest earned on $5,000 at 4.85% annual simple interest over 15 years?

Back

$3,637.50

Front

Mr. Jenkins deposited $1,250 into an account with 4.25% annual simple interest. What was the balance at the end of 4 years?

Back

$1,462.50

Front

An employee put $5,000.00 in a retirement account with 9% interest compounded annually for 5 years. Calculate the interest earned.

Back

$2,693.12

Front

An investor puts $2,500 into a life insurance policy that pays 8.5% simple annual interest. If no additional investment is made into the policy, how much accumulated interest should the investor expect at the end of 10 years?

Back

$2,125.00

Front

Mr. and Mrs. Steele deposited $8,000 to open a college savings account for their granddaughter on the day she was born. The account pays 5% simple interest annually. How much money would be in the account after 18 years?

Back

$15,200

Front

Michelle has a balance of $950 in a savings account that pays 3% interest compounded annually. If Michelle makes no deposits or withdrawals, how much money will be in her savings account after 2 years?

Back

$1,007.86

Front

Brady deposited $600 into a new savings account that earns 2.5% simple interest. How much interest will the account have earned after 5 years?

Back

$75

Front

The current balance in Marianne's savings account is $525. The account pays 3.5% compounded annually. If she makes no deposits or withdrawals for the next 4 years, her savings account balance will be-

Back

$602.45

Front

Back

$1.32

Front

Back

$694.51