Compound Interest

Compound Interest

7th - 8th Grade

13 Qs

quiz-placeholder

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Compound Interest

Compound Interest

Assessment

Quiz

Mathematics

7th - 8th Grade

Practice Problem

Medium

CCSS
HSA.SSE.A.1, 7.RP.A.3, 7.EE.A.2

+9

Standards-aligned

Used 545+ times

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13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.

compound; lowest
simple ; lowest
compound ; highest
simple ; highest

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions enable him to earn MORE interest?

selecting an account with a higher interest rate
leaving his money in the account for a long period of time
transferring money into his checking account each month
higher interest rate AND leaving money in for a longer time

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

Write the percent as a decimal. 
4.3%

4.3
.43
.043
4300

Tags

CCSS.7.NS.A.3

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

$827.52
$831.10
$839.45
$846.80

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

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

the time has to be in _____________

years

months

days

seconds

Tags

CCSS.7.EE.A.2

CCSS.HSA.SSE.A.2

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