Simple and Compound Interest

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

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

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

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

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

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)

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

Audrey deposited $2,800 in a savings account that pays 2.65% interest compounded annually. What is the total value of the account after 7 years?

• $562.57

• $3,362.57

• $14,514.15

• $2,569,680.00

Sharyce put some money in a savings account that paid 2.7% simple interest. After a year, the account was worth $7,890.44. What was the amount Sharyce originally deposited?

• $7,200

• $7,683

• $7,500

• $7,700

Karl used his credit card to buy a 90-inch HD flat-screen TV for $2,600. The credit card company charges 28% compound interest per year. If Karl made no payments for 2 years, how much would he owe the credit card company?

• $5,069.84

• $4,772.18

• $4,259.84

• $4056.00