Interest Bazinga

Anne deposited $500 in an account that earns 6% simple annual interest. Shelly deposited $500 in an account that earns 6% annual interest compounded annually. They leave the money in the account for 4 years. Who will have more money in 4 years?

• Shelly will have $131.24 more in her account

  than Anne has in her account.

• They will have the same

  amount in their accounts.

• Shelly will have $11.24 more

  in her account than Anne has in her account.

• Anne will have $11.24 more in

  her account than Shelly has in her account.

Carly deposited $800 in an account that earns 6% compounded annually. Lara deposited $800 in an account that earns 6% simple interest. How much will each girl have

in their account at the end of 10 years if they make no withdrawals or deposits?

• Carly: $1432.68 Lara: $1280

• Carly: $1444.89 Lara: $1280

• Carly: $1444.89 Lara: $1320

• Carly: $1432.68 Lara: $1320

Heather

invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest

compounded annually. What is the value of the CD at the end

of the 4 years?

• $9,394.92

• $9,312.00

• $1394.00

• $1312.00

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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.

• $2,450

• $11,750

• $12,450

• Not here

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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

• $607.75

• $107.75

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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

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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

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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

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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

• $657.50

• $687.50

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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

• $3362.57

• $14,514.15

• $2,569,680