Interest

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Heather

invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest

compounded annually. What is the value of the CD at the end

of the 4 years?

• $9,394.92

• $9,312.00

• $1394.00

• $1312.00

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

I invest $3000 for 4 years at 3% that is compounded annually. Find the total money I have in the bank after 4 years ?

• $3376.52

• $3376

• $3377

• $376.52

If Jarvis borrow $675 for six years at a simple interest rate of 10% , how much interest will he pay ?

• $504

• $1048

• $405

• $1055

Tags

CCSS.7.RP.A.3

Captain America invests $5000 in a savings account which pays compound interest at the rate of 2.5% per year. Calculate the total interest in 6 years correct to the nearest dollars.

• $5798.46

• $750

• $798.46

• $678.46

Tags

CCSS.HSF.BF.A.2

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

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.7.RP.A.3