4/13 Simple and Compound Interest

Carlos deposits $4000 in a bank which pays a compound interest rate of 4% per year. How much will he have in 5 years.

• $4866.61

• $5628.40

• $6077.53

• $6326.60

Tags

CCSS.HSF-LE.A.1C

Paul deposits $8000 in a bank which pays a compound interest rate of 3% per year. How much will he have in 6 years.

• $9552.42

• $5628.40

• $6077.53

• $6326.60

Tags

CCSS.HSF-LE.A.1C

Paul deposits $4000 in a bank which pays a compound interest rate of 5% per year. How much will he have in 7 years.

• $4866.61

• $5628.40

• $6077.53

• $6326.60

Tags

CCSS.HSF-LE.A.1C

Paul deposits $5000 in a bank which pays a compound interest rate of 5% per year. How much will he have in 4 years.

• $4866.61

• $5628.40

• $6077.53

• $6326.60

Mr Tom borrowed $2000 from a bank. The bank charges a simple interest of 7% per annum. Calculate the interest that he has to pay at the end of 3 years.

• $420

• $600

• $2000

• $250

Tags

CCSS.7.RP.A.3

If Jarvis borrow $675 for six years at a simple interest rate of 10% , how much interest will he pay ?

• $504

• $1048

• $405

• $1055

Tags

CCSS.7.RP.A.3

Natasha Romanoff took a car loan of $35000 at a simple interest of 3.8% per annum over 4 years. Calculate the total simple interest she has to pay .

• $5330

• $40320

• $320

• $5320

Tags

CCSS.7.RP.A.3

When calculating

interest, how do you write the percent?

• a fraction

• a decimal

• a round number

• not enough information

Steve deposited

$5,000 in a savings account that pays 4% interest compounded annually. Which

equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³

David

invests $10,000 in a savings account that pays 3.5% simple interest. If David

makes no withdrawals or deposits to the account, how much will be in the

account after 7 years.

• $2,450

• $11,750

• $12,450

• Not here

Tags

CCSS.7.RP.A.3