Simple & Compound Interest Test 10 28 20_A

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

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

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CCSS.HSF-LE.A.1C

You invested $1,900 at 4% interest compounded annually for 3 years.  How much interest did you earn in 3 years?

• $2,372.40
• $237.24
• $2,137.24
• $3,197.60

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CCSS.HSF.BF.A.2

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

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CCSS.HSF-LE.A.1C

Henry deposits $750 into a college savings account that is compounded annually when his parents received as a stimulus package. If Henry lets the money sit in the account without adding or removing any and receives a 8.5% interest rate, how much money will he have total after 5 years?

• $1127.74

• $1535.24

• $2345.67

• $850.76

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CCSS.HSF-LE.A.1C

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

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

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CCSS.HSF.LE.A.2

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94
• $15,683.28
• $15,927.56
• $16,109.05

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

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CCSS.HSA.SSE.B.4

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

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CCSS.HSA.SSE.B.4

Approximately what interest rate would be needed in order to grow an investment of $1,400 to $2,500 in 10 years if the interest was compound monthly?

• 5.96%
• 5.84%
• 5.81%
• 5.88%

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

Given an investment of $1,500:
Which investment would have a larger balance after 5 years?
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily. 

• Option 1
• Option 2

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CCSS.HSA.CED.A.1

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Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.A.1