Interest Review

John put 14,000 Euros in an account at a simple interest rate of 1% per year.  How much interest will he get after 12 years?

• 16,800 Euros
• 168,000 Euros
• 1,680 Euros

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay in total  after 4 years?

• $480
• $3,480
• $4,800
• $7,800

Mr. Peterson paid $1,020 in interest for a loan, which was given to him at a rate of 5% for 3 years.  How much money did he borrow originally?

• $5,400
• $6,800
• $3,240
• $14,620

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 6%
• 8%
• 9%

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

Tags

CCSS.7.RP.A.3

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

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

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% compound interest rate  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

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% compound interest for 2 years

• $2200.00
• $3207.60
• $8910.00
• $2750

Shawn is buying a new Jet Ski for $12,500. He is considering 2 credit options. Option A offers a 6 year loan with 8.5% compound interest quarterly, while Option B offers a 5 year loan with10% compound interest  annually.Which option is better and how much will he save?

• A) A; $495.21 
• B) A; $573.83 
• C) B; $495.21 
• D) B; $573.83 

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% compound interest semi-annually(twice per year), how much total will Riley earn in 15 years?

• $2025.00
• $2,651.39
• $7096.37 
• $2663.90