Simple/Compound Interest

Jimmy invested $200 in a retirement account that had a rate of 20% that compounds annually. If Jimmy leaves his money for 40 years, how much money will be in his account rounded to the nearest dollar?

• $29395

• $293954.31

• $293954

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

CCSS.7.RP.A.3

Starting money = $350.

Interest rate = 2.5%

TIme = 3 years.

How much interest is earned on simple interest?

• $7.50

• $26.25

• $87.5

• $262.50

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

Tags

CCSS.7.RP.A.3

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

Tags

CCSS.6.RP.A.3C

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.7.RP.A.3

CCSS.7.NS.A.2

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Tags

CCSS.7.RP.A.3

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSF-LE.A.1C

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³
• 2000(1-0.02)¹³
• 2000(1+0.02)¹⁶
• 2000(1-0.02)¹⁶

Tags

CCSS.HSF.BF.A.2

How much interest is earned on a $50 loan at a rate of 3% compounded annually for 5 years?

• $7. 96
• $57. 96
• $7.50
• $57.50