Compound Interest

Compound Interest

8th Grade

10 Qs

quiz-placeholder

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Compound Interest

Compound Interest

Assessment

Quiz

Mathematics

8th Grade

Easy

CCSS
HSA.SSE.A.1, HSF.BF.A.2, 5.NBT.A.3

+6

Standards-aligned

Created by

Jumoke Babalola

Used 9+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Change 6.75% to a decimal.

67.5
.675
675
.0675

Tags

CCSS.5.NBT.A.3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The compound interest formula is:
A = P(1 + r)t

What does the A represent?

The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.

Tags

CCSS.HSA.SSE.A.1

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You take out a loan for $175,000. Which option will cost you less?

A) Simple Interest rate of 4.17% over 15 years

B) Compound Interest rate of 3.5% over 15 years

Option A

Option B

they are both equal

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

You invested $1,900 at 4% interest compounded annually for 3 years.  How much interest did you earn in 3 years?

$2,372.40
$237.24
$2,137.24
$3,197.60

Tags

CCSS.HSF.BF.A.2

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Your allowance of $190 earned an interest of 11% compounded annually for 1 2/3 years.  How much interest did you earn on your allowance?

$343.90
$153.90
$226.10
$36.10

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Write the percent as a decimal. 
4.3%

4.3
.43
.043
4300

Tags

CCSS.7.NS.A.3

CCSS.7.RP.A.3

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