Simple and Compound Interest Practice

Front

Use simple interest to find the ending balance.
$34,100 at 4% for 3 years

Back

38,192

Front

Use simple interest to find the ending balance for $210 at 8% for 7 years.

Back

327.60

Front

Ending balance: $248.29, 3% interest compounded annually for 8 years. What was the principal?

Back

$196

Front

$2,300 at 7% for 9 years

Back

$3,749.00

Front

$14,000 at 6% for 9 years

Back

$21,560.00

Front

A bank is offering 3% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in 3 years?

Back

$450

Front

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. How much interest will she pay at the end of the 4 years?

Back

$5,040

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 1 year?

Back

$1,605

Front

When calculating interest, how do you write the percent?

Back

a decimal

Front

If you put $85.81 into a savings account that earns 15%, how much interest will you receive at the end of three years?

Back

38.61