Simple & Compound Interest

Simple & Compound Interest

Multiple Choice

Find the amount of simple interest earned if you invest $500 at 6% for 4 years.

• $120

• $200

• $130

Multiple Choice

Find the amount of simple interest earned if you invest $2000 at 5.25% for 6 years.

• $525

• $460

• $630

Multiple Choice

Find the total amount in the account to the nearest cent if the interest is compounded annually.

$3680 at 6% for 2 years

• $3,900.80

• $4,134.85

• $4,186.22

Multiple Choice

Find the total amount in the account to the nearest cent if the interest is compounded annually.

$2500 at 3.5% for 3 years

• $2,771.79

• $2,669.75

• $2,596.89