Personal Finance (Simple & Compound Interest)
Authored by Jill Yonnone
Mathematics
7th - 9th Grade
CCSS covered
Used 4+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
SIMPLE INTEREST I=Prt
Cosme is saving money. He put $600 in the bank earning 8% simple interest. How much interest will he earn after 6 years?
$300
$288
$600 + $288 = $888
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
SIMPLE INTEREST I=Prt
Allen borrowed money for college. He borrowed $8,000 with a simple interest rate of 4.5% for 3 years. How much interest will he pay?
1,080
1,080,000
2,000
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
SIMPLE INTEREST I=PRT
Anthony is saving for a new phone. He put $400 in a savings account earning 12% simple interest. How much interest will he earn after 2 years?
$96
$180
$0
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
SIMPLE INTEREST I=Prt
Cornelius has $8000 in the bank earning 7% simple interest. How much interst will he have earned when he graduates college in 8 years?
890
400
4480
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
COMPOUND INTEREST
Ebony is earning 8% compound interest on the $3,000 loan she gave to her friend. How much total money will she get back after 8 years?
1920
553
5552.80
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
COMPOUND INTEREST
Darwin started a loan business. He gives $10,000 loans with 18% compound interst for 2 years. How much money does each borrower have to pay back in total?
11,000
13,924
3,000
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
COMPOUND INTEREST
Jenny used a loan to buy a new car for $27,000. The bank charges 6% compound interest for 6 years. How much money will she pay the bank in total?
38,300.02
27,000
30,000
Tags
CCSS.HSF-LE.A.1C
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