HOLUB- Level one: Simple and Compound Interests

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

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

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

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

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

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

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

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually. How much interest would you pay back on that loan?

• $602.45

• $2,292.45

• $1,87.55

• $3,982.45

Your allowance of $190 earned an interest of 11% compounded annually for 1 2/3 years.  How much interest did you earn on your allowance?

• $343.90
• $153.90
• $226.10
• $36.10