Simple and Compound Interest
Authored by Jose Balbuena
Mathematics
8th Grade
CCSS covered
Used 15+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
David invests $10,000 in a savings account that pays 3.5% simple interest. If David makes no withdrawals or deposits to the account, how much will be in the account after 7 years.
$2450
$11,750
$12,450
Not Here
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Garrison deposited $500 in an account that earns 5% annual interest compounded annually. If he makes no withdrawals or deposits, how much interest will the account earn after 4 years?
$600
$100.00
$607.75
$107.75
Tags
CCSS.HSF.BF.A.2
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jared invests $10,000 in a savings account that pays 3% simple interest. How many years will it take for the account to grow to $12,700, if he makes no withdrawals or deposits?
7 years
12 years
9 years
22 years
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Gilberto invests $10,000 in a savings account that pays 4.75% simple interest. If Gilberto makes no withdrawals or deposits to the account, how much will be in the account after 7 years?
$3,325
$13,325
$13,838.16
$13,000
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Tran invests $15,000 in a savings account that pays 4% simple interest. About how many years will it take for the account to double at this interest rate?
7 years
60 years
25 years
27 years
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Willa deposited $5,000 in an account that pays 6% interest compounded annually. Which expression can be used to find the value of her investment after 5 years?
5000(1.06)5
5000(0.06)4
5000+5000(0.06)(5)
5000(1.06)(5)
Tags
CCSS.HSF.BF.A.2
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Travis invests $25,000 in a savings account that pays 2.75% simple interest. How much interest does he earn each year?
$787.50
$625.00
$657.50
$687.50
Tags
CCSS.7.RP.A.3
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