Simple, Compound, College, etc..

What does the "I" in the simple interest formula stand for?

• Important

• Interest

• Internet

• Igloos

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Calculate the interest. I = prt,

Principal = $10000,

Rate = 7%,

Time = 20 years

• 1400

• 1000

• 14000

• 14

Use simple interest

Principal= $6500

Interest rate of 8% for 5 years. What is the total amount? (Hint:NOT INTEREST)

• $2600

• $910

• $9100

• $260

The simple interest earned on an account for 10 years is $125. If the original deposit is $500, what is the rate?

• 2.5%

• .025%

• $625,000

• 625,000%

The compound interest formula is:
A = P(1 + r)^t

What does the A represent?

• The amount of interest earned.
• The amount of time that has passed.
• The total amount of money after a certain amount of time.
• The amount required to invest.

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04
• $1080.57
• $1057.95
• $902.18

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Find the interest earned:

$600 invested at 6% compounded annually for 7 years.

• $2273.04

• $1080.57

• $902.18

• 302.18

Melissa deposits $500 in an account that earns 5% simple interest for 15 years.

Joshua deposits $500 in an account that earns 5% compound interest for 15 years.

To the nearest cent, what is the difference in their accounts?

Alejandra and her family are discussing how to pay for her college education. The cost of tuition at the college Alejandra wants to attend is $9,000 per year. Alejandra's parents will pay 85% of the tuition cost every year, and she will pay the rest. Alejandra has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?

• $637.50

• $1,350.00

• $112.50

• $28.12

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.2

CCSS.HSA.CED.A.3

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1