7.7: Simple and Compound interest

I have $60 in a savings account that earns 5% interest per year. The interest is simpled. How much will he earn in 3 years? Use the simple interest equation.

• $9

• $6.50

• $8

• $7.25

Tags

CCSS.7.RP.A.3

Jimmy has $80 in a savings account that earns 5% interest per year. The interest is not compounded. How much interest will he earn in 2 years?

• $6

• $7

• $8

• $9

Tags

CCSS.7.RP.A.3

Micheal opened a savings account and deposited $700.00 which is the principal. The account earns 12% interest, compounded annually. What is the balance after 2 years?

• $738.47

• $878.08

• $745.57

• $993.34

Mrs. Queenan puts $1,000 into her account to use for decorating her classroom. The account earns 15% interest, compounded annually. How much will be in the account after 8 years?

• $30.59.01

• $2344.23

• $3059.02

• $574.57

Tags

CCSS.HSF-LE.A.1C

Edith puts 100 dollars in her bank account. The interest rate per year is 5%. Using simple interest, how much interest will be earned in 4 years?

• $15

• $32

• $19

• $20

Tags

CCSS.7.RP.A.3

Bob puts $700.00 into an account. The account earns 15% interest, compounded annually. How much will be in the account after 7 years?

• $1862.01

• $1862.02

• $1862.03

• $1862.04

Tags

CCSS.HSF-LE.A.1C

Harry Potter has $100 in a savings account in Gringotts bank that earns 5% interest per year. The interest is not compounded. How much interest will he earn in 9 years?

• $23

• $45

• $33

• $44

Tags

CCSS.7.RP.A.3

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