8th grade/7th Pre-AP Compound Interest

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.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.B.4

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90
• $87,798.90
• $127,798
• $7,798

Tags

CCSS.HSF-LE.A.1C

Your $440 gets 5.8% interest compounded annually for 8 years. What will your $440 be worth in 8 years?

• $250.78

• $690.78

• $1,130

• $940.78

Tags

CCSS.HSF-LE.A.1C

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

Aaron deposited $3,000 into a savings account.  How much will Aaron have in his account after 5 months at an annual compound interest rate of 3¼%?

• $3040.25
• $40.25
• $4159.70
• $5482.14

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.HSA.CED.A.4

CCSS.HSF.LE.B.5

Your $440 gets 5.8% interest compounded annually for 8 years. What will your $440 be worth in 8 years?

• $250.78

• $690.78

• $1,130

• $940.78

Tags

CCSS.HSF-LE.A.1C

Monica is depositing $6,000 into a savings with an interest rate of 4.25% for 8 years. How much more interest will she earn if the interest is compounded annually, as opposed to simple interest?   

• $2040.00
• $2370.66
• $330.66
• $5669.34

Tags

CCSS.7.RP.A.3