13-1 Simple and Compound Interest Worksheet

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

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

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?

• $2600

• $910

• $9100

• $260

Tags

CCSS.HSF.BF.A.2

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

Principal = $500
Interest earned in 4 years = $60.
Find the interest rate.

• 1%
• 2%
• 3%
• 4%

Tags

CCSS.7.RP.A.3

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%

Tags

CCSS.7.RP.A.3

What is the total balance for a loan of $400 compounded annually that has a rate of 11% for 4 years

• $207.23
• $607.23
• $176
• $576

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

What is the amount of interest earned if you have $45 that earns 3.8% interest compounded annually for 6 years

• $10.26
• $55.26
• $11.29
• $56.29

At age 15 you go to work for Braums. You take your 1st paycheck of $120 and put it in savings.  Your $120 earns 2% interest compounded annually.  If you leave the $120 in the account, how much money will you have when you turn 55?

• $264.96
• $144.96
• $216
• $96