Simple/compound interest

_{Dominic opened a savings account with a $500 deposit, his account pays 2% simple interest annually. Evie also opened a savings account with a deposit of $500. Her account pays 2% interest compounded annually. How much more interest will Evie's $500 deposit have earned after 3 years that Dominic's $500 deposit in the same amount of time?}

• $0.60

• $12.50

• $30.00

• $30.60

_{Michelle has a balance of $950 in a savings account that pays 3% interest compounded annually. If Michelle makes no deposits or withdrawals how much money will be in her savings account after 2 years?}

• $954.81

• $1 004.00

• $1 007.00

• $1 007.86

_{An education loan of $58 400 for 10 years has an annual rate of 9.5%. What is the simple interest owed on this loan? What is the total amount of money that will be repaid on this loan?}

• $55 480

• $58 400

• $43 690

• $113 880

^{Farah has $20 in a savings account that earns 5% annually.The interest is not compounded. How much interest will she earn in 1 year?}

• $1.00

• $4.50

• $7.43

• $20.00

^{​Colin has $70 in a savings account. The interest rate is 10% per year and is not compounded. How much interest will he earn in 1 year?}

• $4.30

• $4.00

• $7.00

• $9.00

^{​Michelle has $30 in a savings account .The interest rate is 10% per year and is not compounded. How much interest will she earn in 3 years?}

• $9.35

• $9.00

• $2.35

• $4.45

_{Kathleen deposited $30 in a savings account earning 5% interest, compounded annually.}

_{To the nearest cent, how much interest will she earn in 3 years?}

• $6.92

• $11.38

• $4.73

• $4.93

_{Ronna deposited $6 in a savings account earning 10% interest, compounded annually.}

_{To the nearest cent, how much interest will she earn in 3 years?}

• $4.89

• $1.99

• $2.98

• $7.43