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HOLUB- Level one: Simple and Compound Interests

Authored by Kyndall Holub

Mathematics

8th Grade

CCSS covered

Used 7+ times

HOLUB- Level one: Simple and Compound Interests
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13 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Samantha went to the mall and saw a piece of furniture 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 Samantha will pay?

$2600

$910

$9100

$260

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monica invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in total?

$3,078

$378

$40,500

$4536

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You invest $500 at 4% rate and receive $60 in simple interest. How many years was it invested for?

1 year

2 years

3 years

4 years

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Nate borrowed $3,500 for 3 years at 7½% simple interest rate.

How much interest would he have to pay back?

$1,287.50

$787.50

$810

$812.50

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Kevin earned $475 from doing chores over quarantine. 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

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

$1,225,54

$2,100.34

$22,255.40

$225.54

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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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