9.11.3 Simple interest and Compound ma2020cvu

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

Jazselle wants to buy a gaming laptop so she borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

The compound interest formula is:

A = P(1 + r)^t

What does the A represent?

• The amount of interest earned.

• The amount of time that has passed.

• The total amount of money after a certain amount of time.

• The amount required to invest.

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

• $1,225,54

• $2,100.34

• $22,255.40

• $225.54

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Pewdiepie went to the mall and saw a massage chair that he would have to take a loan out for $6500 to purchase. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that Pewdiepie will pay for the chair?

• $2600

• $910

• $9100

• $260

Arshia deposited $5,000 in a savings account that pays 4% interest compounded annually. Which equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³

Akilesh 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

Dinuli put some money in a savings account that paid 2.7% simple interest. After a year, the account was worth $7,890.44. What was the amount Dinuli originally deposited?

• $7,200

• $7,683

• $7,500

• $7,700

What is the formula for simple interest?

• A=P(1+r)^t
• I=Prt
• I=P(1+r)t
• A=Prt

Tags

CCSS.8.EE.C.7B

Fiona deposited $500 in an

account that earns 6% simple annual interest.

Sasha deposited $500 in an account that earns 6% annual interest compounded annually.

They leave the money in the account for 4 years.

Which statement is true about the two investments after 4 years?

• Sasha will have $131.24 more in her account

  than Fiona has in her account.

• They will have the same

  amount in their accounts.

• Sasha will have $11.24 more

  in her account than Fiona has in her account.

• Fiona will have $11.24 more in

  her account than Sasha has in her account.