Financial Lit. :Simple & Compound Interest, Terms of Loan
Quiz
•
Mathematics
•
8th Grade
•
Hard
+12
Standards-aligned
Laura Perry
Used 41+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What is the formula for simple interest?
Tags
CCSS.HSA.CED.A.2
CCSS.HSA.SSE.A.1
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year
Tags
CCSS.HSF.BF.A.2
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the simple interest:
Principal: $6,000
Interest Rate: 5%
Time: 6 months
Tags
CCSS.7.RP.A.2
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jose invests $200 into an account at a rate 2%. He plans on keeping the account open for 15 years. If it is a compound interest account, about how much money will he have in the account after 15 years?
$60
$70
$260
$270
Tags
CCSS.HSF-LE.A.1C
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25%. He plans to keep it in the account for the next 10 years. How much interest would he gain in the account after 10 years?
$50
$450
$500
$5,000
Tags
CCSS.HSF.BF.A.2
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Megan is currently in 8th grade and wants to begin saving money for college. She wants to invest $2000 in a simple interest account that pays at a rate of 3.5%. How many years will she have to save for the account to gain $490 in simple interest?
5 years
6 years
7 years
8 years
Tags
CCSS.6.EE.B.7
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A simple interest account earns $75 at a rate of 1.5% over the course of 5 years. What was the principal amount on the account?
$5
$56
$100
$1,000
Tags
CCSS.6.EE.B.7
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