Simple and Compound Interest
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
Front
Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?
Back
$26.25
2.
FLASHCARD QUESTION
Front
The principle in the simple interest formula I=Prt is:
Back
the amount of money borrowed or deposited
3.
FLASHCARD QUESTION
Front
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?
Back
$23040
4.
FLASHCARD QUESTION
Front
What does the "I" in the interest formula stand for?
Back
Interest
5.
FLASHCARD QUESTION
Front
Caiden's initial deposit: $475, Interest rate: 3.8% compounded annually, Time: 15 years. What will be his balance?
Back
$831.10
6.
FLASHCARD QUESTION
Front
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after three years?
Back
$1837.56
7.
FLASHCARD QUESTION
Front
David invests $10,000 in a savings account that pays 3.5% simple interest. If David makes no withdrawals or deposits to the account, how much will be in the account after 7 years?
Back
$12,450
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