Grade 10 maths literacy Simple and Compound Interest (saley)

Grade 10 maths literacy Simple and Compound Interest (saley)

Assessment

Flashcard

Mathematics

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

10 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Jose wants to invest $3000 in a compound interest account with a 3% interest rate for 12 years. What would be his account balance?

Back

$4,277.28

2.

FLASHCARD QUESTION

Front

Megan wants to invest $2000 in a simple interest account at 3.5% to gain $490. How many years will it take?

Back

7 years

3.

FLASHCARD QUESTION

Front

Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25%. How much interest would he gain in the account after 10 years?

Back

$50

4.

FLASHCARD QUESTION

Front

6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

Back

$87,798.90

5.

FLASHCARD QUESTION

Front

You borrowed $59,000 for 2 years at 11% compounded annually. What total will you pay back?

Back

$72,693.90

6.

FLASHCARD QUESTION

Front

3-year investment of $20,000 with 5.2% interest compounded annually. What is the total return?

Back

$23,285.05

7.

FLASHCARD QUESTION

Front

Mr Tom borrowed $2000 from a bank. The bank charges a simple interest of 7% per annum. Calculate the interest that he has to pay at the end of 3 years.

Back

$420

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?