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•14 Qs
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Simple and Compound Interest
Quiz
•
Mathematics
•
8th Grade
•
Hard
Standards-aligned
Kathryn DiChiara
Used 3+ times
FREE Resource
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14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Lucca has $1,000 to start a savings account. The account is a simple interest account with a rate of 5%. What will be the total of Lucca's account after investing the money for 10 years?
50
500
1,500
15,000
Tags
CCSS.HSF.BF.A.2
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
Tags
CCSS.HSF.BF.A.2
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Julie borrowed $3,500 for 3 years at 7.5% simple interest rate.
How much interest is that?
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Dan borrowed $2,000 for 6 years at 12% annual simple interest rate. How much interest is that?
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
3 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 years?
$827.52
$831.10
$839.45
$846.80
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