Simple and Compound Interest

Front

How do you write 23% as a decimal?

Back

0.23

Front

How do you write 5% as a decimal?

Back

0.05

Front

What is 5.6% written as a decimal?

Back

0.056

Front

What is the principal of Alexia's 4-year simple interest car loan for a Nissan Versa at a 3% interest rate?

Back

$15000

Front

Christine takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. How much interest will she owe at the end of 4 years?

Back

$1800

Front

Greg takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. How much total money will he owe at the end of 4 years?

Back

$16800

Front

Aiydan puts $5000 into a savings account with a 3% interest rate. The interest compounds yearly. How much money will he have in his account after 8 years?

Back

$6333.85

Front

Keylaan takes out a $30000 loan for her new Ford Mustang. She will pay back the entire loan at the end of 8 years. It is a simple interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years?

Back

$47400

Front

Sara takes out a $30000 loan for her new Honda Civic. She will pay back the entire loan at the end of 8 years. It is a compound interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years?

Back

$52516.97

Front

Which is better for the lender, a simple interest loan or a compound interest loan?

Back

Compound Interest