Calculating, Comparing Simple and Compound Interest

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  The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts.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.

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

Isabella deposited $2,000 in an account that pays 5% simple annual interest.  After one year how much interest will her investment pay? 

• $2,100
• $100
• $10,000
• $400

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CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Mr. Wilkins deposited $2,500 in a new account at his bank.
       *The bank pays 6.5% interest compounded annually on this account.
       *Mr. Wilkins makes no additional deposits or withdrawals.
Which amount is closest to the balance of the account at the end of 2 years?

• $2,835.56
• $2,513.00
• $2,662.50
• $2,825.00

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CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

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 year?

• $827.52
• $831.10
• $839.45
• $846.80

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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

I invest $3000 for 4 years at 3%. per annum compound interest. Find the total money I have in the bank after 4 years ?

• $3376.52

• $3376

• $3377

• $376.52

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CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Pepper Potts deposited $4500 in a bank account at 4% per annum compound interest. Find the interest which she earns at the end of 5 years.

• $5575

• $975

• $5475

• $974