Simple and Compound Interest

How much was in the account in 2017?

• $10,000

• $12,000

• $14,000

• $16,000

How much interest is he earning each year?

• $450

• $460

• $470

• $480

How much will be in the account in the year 2037?

• $20,400

• $21,000

• $21,600

• $21,300

What was the simple interest rate given at this bank?

• 5%

• 2%

• 3%

• 4%

How much was in the account in 2017?

• $25,000

• $30,000

• $35,000

• $40,000

What was the interest rate?

• 5%

• 6%

• 7%

• 8%

How much money will be in the account in the year 2050?

• $170,014.65

• $171,755.95

• $171,014.75

• $188,244.05

What equation fits this given situation? (HINT: you need to find 5% of the principal first)

• A = 20,000 + 1000t

• A = 20,000 + .05t

• A = 20,000(5) + 10t

• A = 20,000 + 100t

How much is in the account after 18 years?

• $35,000

• $36,000

• $37,000

• $38,000

In how many years will the account be worth $50,000?

• 45 years

• 50 years

• 55 years

• 47 years