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Simple and Compound Interest

Simple and Compound Interest

Assessment

Flashcard

•

Mathematics

•

8th Grade

•

Practice Problem

•

Hard

Created by

Wayground Content

FREE Resource

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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:

Media Image

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?

Media Image

Back

$23040

4.

FLASHCARD QUESTION

Front

What does the "I" in the interest formula stand for?

Media Image

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?

Media Image

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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