Calculating and Comparing Simple and Compound Interest

Math Response

BELL-RINGER QUESTION

What is the linear equation in slope-intercept form of the given graph?

Type answer here

Correct Answer: y=-\frac{2}{5}x+9

Deg^°

Rad

Home

Open in new tab

Copy link

Math Response

PARTNER PRACTICE

1. Determine the amount of simple interest earned for an investment of $2300 at 7% for 9 years.

Type answer here

Correct Answer: 1449

Deg^°

Rad

Math Response

PARTNER PRACTICE

2. Determine the ending balance of an invested account of $43800 at 4.8% simple interest earned for 5 years.

Type answer here

Correct Answer: 54312

Deg^°

Rad

Multiple Choice

PARTNER PRACTICE

3. A customer will borrow $12000 to buy a car.  Which loan option would allow the customer to pay the least amount of interest?

• A 4-year loan with a 5.2% annual simple interest rate.

• A 5-year loan with a 4.2% annual simple interest rate.

• A 6-year loan with a 4.7% annual simple interest rate.

• A 3-year loan with an 8.4% annual simple interest rate.

Math Response

PARTNER PRACTICE

4. You want to make an investment while away at college for 5 years at 5% simple interest.  If the interest earned is to be $3000 from the investment, how much money will you have to start the investment with?

Type answer here

Correct Answer: 12000

Deg^°

Rad

Multiple Choice

PARTNER PRACTICE

5. Jamie received an interest amount of $1,650 for an investment made for 4 years earning simple interest at a rate of 5.5%. What is the total amount of which Jamie will have after the last year?

• $7500

• $9150

• $10150

• $36300

Home

Open in new tab

Copy link

Math Response

PARTNER PRACTICE

6. Find the total amount in your account if you started with $5000 at 7.5% compounded interest rate for a period of 20 years.

$21,239.26

Type answer here

Correct Answer: 21239.26

Deg^°

Rad

Math Response

PARTNER PRACTICE

7. Determine the amount of interest earned from a loan for a term of 60 months paid at $20,000 compounded interest rate of 4.5%.

Type answer here

Correct Answer: 4923.64

Deg^°

Rad

Math Response

PARTNER PRACTICE

8. Tamara invests $15000 into an account that pays 4% interest compounded annually.  How much interest will be earned at the end of 3 years? Round to the nearest whole dollar.

Type answer here

Correct Answer: 1873

Deg^°

Rad

Math Response

PARTNER PRACTICE

9. If you borrowed $30000 for a new car at a compound interest rate of 6.5% for 5 years, what would be the amount of the monthly payments for the loan term?

Type answer here

Correct Answer: 685.04

Deg^°

Rad

Math Response

PARTNER PRACTICE

10. Determine the compound interest amount earned:

Principal= $2000

Interest Rate= 9%

Time Period= 6 months

Round to the nearest tenths place for the dollar and cent amount.

Type answer here

Correct Answer: 88.10

Deg^°

Rad

Multiple Choice

EXIT TICKET 03/25 - TEK 8.12D

Nicolas has $650 to deposit into two different savings accounts.

•Nicolas will deposit $400 into Account I, which earns 3.5% annual simple interest.

•Nicolas will deposit $250 into Account II, which earns 3.25% interest compounded annually.

If Nicolas does not make any additional deposits or withdrawals from the account, which amount is closest to the total balance of these two accounts at the end of two years?

• $672.13

• $695.00

• $694.25

• $694.51