Simple, Compound, Continuous Interest and Annuities

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

Tags

CCSS.HSF-LE.A.1C

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.4.MD.A.1

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

Tags

CCSS.8.EE.C.7B

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

Tags

CCSS.7.RP.A.3

Principal = $800

Interest Rate = 3.5%

Time = 6 months

Find the simple interest earned.

* Time needs to be in years*

• 14

• 140

• 168

• 16.80

Tags

CCSS.7.RP.A.3

Holly is taking out a loan in the amount of $10,000.  Her choices for the loan are a 4-year loan at 4% simple interest and a 6-year loan at 5% simple interest.  What is the difference in the amount of interest Holly would have to pay for each of these two loans?

• $1,600
• $3,000
• $4600
• $1,400

Tags

CCSS.7.RP.A.3

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

• 50%

• 5%

• 500%

• 7.5%

Tags

CCSS.7.RP.A.3

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

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54