Simple Interest / Compound Interest
Authored by Jude Platukis
Mathematics, Business, Life Skills
9th - 12th Grade
CCSS covered
Used 76+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
15 mins • 2 pts
You lend $240 to your friend. He pays you back $30 in interest in one year. What interest rate did you charge your friend?
88%
20%
12.5%
10%
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?
4.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?
Tags
CCSS.HSF-LE.A.1C
5.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?
$4915.59
$3933.28
$2979.81
$4005.09
6.
MULTIPLE CHOICE QUESTION
3 mins • 2 pts
Maggie would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years?
$15,415.94
$15,683.28
$15,927.56
$16,109.05
7.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
$12712.31
$12,749.30
$12,657.59
$12550.84
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