Compound Interest

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

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

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

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

You take out a loan for $175,000. Which option will cost you less?

A) Simple Interest rate of 4.17% over 15 years

B) Compound Interest rate of 3.5% over 15 years

• Option A

• Option B

• they are both equal

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

You deposit $2,500 in a savings account.

What is the difference in the amount of interest that will be paid in each situation?

Option A) Interest rate of 8.25% simple interest for 2 years

Option B) Interest rate of 6.5% compounded annually for 2 years

• $769.40

• $335.56

• $76.94

• $68.52

Tags

CCSS.7.RP.A.3

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, what will be the total amount of money in your savings account after three years?

• $337.56
• $1837.56
• $31500
• $30000

Tags

CCSS.7.RP.A.3

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56
• $337.56
• $30000
• $31500

Tags

CCSS.7.RP.A.3

Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car.  What is the total amount she will repay the bank for the auto loan?

• $31258.30
• $10258.30
• $981750
• $27165

Tags

CCSS.7.RP.A.3

Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car.  How much interest will she pay on top of the principal at the end of the 5½ years?

• $31258.30
• $27165
• $10258.30
• $981750

Tags

CCSS.7.RP.A.3

• F

• G

• H

• J

• F

• G

• H

• J