Simple and Compound Interest
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
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5 questions
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1.
FLASHCARD QUESTION
Front
Samuel gets a loan of $4000 with an interest of 3.5% annually. After 6 years, how much does he owe in total?
Back
$4,840
2.
FLASHCARD QUESTION
Front
Jason put $250 into a savings account with 3.25% interest compounded monthly. How much will be in the savings account after 4 years?
Back
$284.66
3.
FLASHCARD QUESTION
Front
Interest accumulated after 8 years on a $525 deposit with 4% interest compounded annually?
Back
$718.50
4.
FLASHCARD QUESTION
Front
Account 1 has $150 with an annual interest rate of 4%. Account 2 has $120 with a compounding annual interest of 3.5%. Find the difference between the two accounts after 5 years.
Back
$37.48
5.
FLASHCARD QUESTION
Front
Take the interest rates from question 4. If you had $100 to deposit into an account, which would have more money after 5 years? 10 years?
Back
5 years: Account 1. 10 years: Account 2
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