Simple and Compound Interest

Find the maturity value for a $3000 loan at 5.8% interest for 100 days.

• $3,048.33

• $2,000.50

• $750.33

• $3901.22

Find the interest rate if $5,000 is borrowed, and $5,243.75 is paid back 9 months later.

• 6.5%

• 5.5%

• 0.065%

• 0.055%

Find the amount of interest earned by a deposit of $1,600 for 7 years at 4.2% compounded monthly.

• $545.75

• $525.50

• $500.75

• $625.50

Find the annual interest rate if $6,500 is worth $8,665.69 after being invested for 8 years in an account that compounded interest monthly.

• 3.6%

• 0.036%

• 2.8%

• 3.65%

Find the effective rate for an account that pays 2.6% compounded monthly.

• 2.73%

• 1.0273%

• 0.0273%

• 1.98%

Find the present value of $10,000 in 7 years if money cam be deposited at 4.25% compounded quarterly.

• $7438.39

• $7500.42

• $7225.84

• $7993,54

Find the time needed for $3,800 deposited at 3.5% compounded semiannually to be worth at least $7,000.

• 18 years

• 19 years

• 17 years

• 16 years

Tags

CCSS.HSF.LE.A.4

Find the interest earned on $5,000 deposited at 3.8% compounded continuously for 9 years.

• $2038.80

• $7038.80

• $5000.00

• $2504.34