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Simple interest and compound interest

Authored by ELIZABETH ARELLANO

Mathematics

8th Grade

CCSS covered

Used 10+ times

Simple interest and compound interest
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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?

$800
$1,000
$1,200
$1,500

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?

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
How much interest is that?
$787.50
$810
$812.50

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?

4
8
12
16

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?

150
192
1350
1392

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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