Retake Interest and Cost of Credit

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

Tags

CCSS.7.RP.A.3

John put 14,000 Euros in an account at a simple interest rate of 1% per year.  How much interest will he get after 12 years?

• 16,800 Euros
• 168,000 Euros
• 1,680 Euros

Tags

CCSS.7.RP.A.3

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 years?

• $827.52                     (Mr. Williams)       
• $831.10                 (Mrs. Hoch)
• $839.45                    (Mr. Krajunus)
• $846.80                   (Ms. Palombo)

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they  have paid after 30 years?

• $412,749.79      Labor Day
• $429,305.61            the 4th of July
• $471,259.24  Groundhog Day
• $494,546.99 Valentine’s Day

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.2

Holly is taking out a loan in the amount of $10,000.  Her choices for the loan are a 4-year loan at 4% simple interest and a 6-year loan at 5% simple interest.  What is the difference in the amount of interest Holly would have to pay for each of these two loans?

• $1,600
• $3,000
• $4600
• $1,400

Tags

CCSS.8.EE.C.7B

Olivia will deposit $1,530 in an account that earns 6% simple interest every year.  Her sister Melinda will deposit $1,500 in an account that earns 8% interest compounded annually.  The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts.  Which statement about the balances of Olivia's account and Melinda's account at the end of 3 years is true?

• Olivia's account will have about $5.40 more than Melinda's account.
• Olivia's account will have about $84.17 more than Melinda's account.
• Melinda's account will have about $5.40 more than Olivia's account.
• Melinda's account will have about $84.17 more than Olivia's account.

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

The ability to borrow money

• term

• credit

• interest

• monthly payment

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

The length of time given to repay a loan

• term

• balance

• monthly payment

• interest

Tags

CCSS.5.NBT.A.2

Will takes out a loan of $6000 at 3.5% interest. The loan term is 2 years, with a monthly payment of $460. What is his total repayment amount?

• $6000

• $460

• $11,040

• $920

Tags

CCSS.7.RP.A.3

Will takes out a loan of $6000 at 3.5% interest. The loan term is 2 years, with a monthly payment of $460. How much interest does he pay?

• $5040

• $6000

• $11,040

• $460

Tags

CCSS.8.EE.C.7B