Simple interest and compound interest
Authored by ELIZABETH ARELLANO
Mathematics
8th Grade
CCSS covered
Used 10+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Julie borrowed $3,500 for 3 years at 7½% simple interest rate.
How much interest is that?
How much interest is that?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?
Tags
CCSS.6.RP.A.3C
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Carly deposited $800 in an account that earns 6% compounded annually. Lara deposited $800 in an account that earns 6% simple interest. How much will each girl have
in their account at the end of 10 years if they make no withdrawals or deposits?
Carly: $1432.68 Lara: $1280
Carly: $1444.89 Lara: $1280
Carly: $1444.89 Lara: $1320
Carly: $1432.68 Lara: $1320
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Steve 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
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.LE.B.5
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Heather
invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest
compounded annually. What is the value of the CD at the end
of the 4 years?
$9,394.92
$9,312.00
$1394.00
$1312.00
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
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