Simple and Compound Interest

John invested $6,000 into an account that pays 8% annual compound interest. What will the balance of his account be after 6 years?

• 9,521.25

• 10,851.26

• 3,521.25

• 2,986.24

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Samantha made an initial investment of $16,500 into her retirement account. It will pay 12.5% interest compounded annually. What will her balance be after twenty years?

• 173,994.05

• 186,789.26

• 157,494.05

• 152,383.26

Tags

CCSS.HSF-LE.A.1C

Jennifer deposited $18,000 in an account that pays 7.5% annual compound interest. She will not make any additional deposits or withdrawals. What will be the balance of the account in 15 years?

• 53,259.79

• 58,364.88

• 35,259.79

• 38,264.88

Tags

CCSS.HSF-LE.A.1C

Jasmine saved half of her birthday money each year until she had saved up $4,000. She invested it in hopes to help save for college. The account she put it in earns 10.5% interest compounded annually. What will be the balance of the account after 4 years?

• 5,963.61

• 1,963.61

• 58,982.75

• 62,386.61

1. Jackson invested $50,000 into an account that earns 10% annual simple interest. Samantha will not make any additional deposits or withdrawals. How much interest will Samantha earn on her investment after 8 years?

• 40,000

• 90,000

• 50,000

• 30,000

Tags

CCSS.7.RP.A.3

Rachel deposits $2,000 into a savings account that earns 3.8% annual simple interest. How much interest will have accrued after 48 months?

• 304

• 204

• 2,304

• 2,204

Tags

CCSS.7.RP.A.3

An investor puts $15,000 into a local business and it pays 12.5% annual simple interest. How much interest earned should the investor expect after 60 months?

• 9,375

• 24,375

• 8,842.50

• 23,842.50

Tags

CCSS.7.RP.A.3

Jayden wants to get a $4,500 loan in order to help start his own small business. If it is a 2 year loan that accrued a total of $378 in annual simple interest, what is the interest rate that he received?

• 4.2%

• 5.4%

• 8.5%

• 3.5%

Tags

CCSS.7.RP.A.3