
Simple and Compound Interest
Quiz
•
Mathematics
•
8th Grade
•
Practice Problem
•
Medium
Standards-aligned
Emmanuel Palacios
Used 15+ times
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18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Briana deposits $29,814 into a savings account that earns 11% simple interest per year. To the nearest dollar, how much will she have in two years?
$6,559
$36,373
$36,734
$6,919
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Brian deposits $1000 into a savings account that gives him 6% interest compounded annually. How much money will he have in 8 years?
$480
$1,480
$1,593.85
$593.85
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the formula for simple interest?
I=prt
A= P(1+r)t
Tags
CCSS.8.EE.C.7B
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for compound interest?
I=prt
A= P(1+r)t
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Josh deposits $2,500 of his paycheck to a savings account that gives him back 12% simple interest. How much interest will he earn after 4 years.
$1,200
$3,700
$3,933.80
$1,433.80
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Principle: $14,000
Rate: 6%
Years: 9
Given the information, what will be the ending balance using simple interest?
$480
$4,480
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Given the information, use compound interest to find the closest amount to the ending balance.
Principle: $7,300
Rate: $7%
Time: 3 years
$8,833
$8,942
Tags
CCSS.HSF-LE.A.1C
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