Simple and compound interest

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.HSA.CED.A.1

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 6%
• 8%
• 9%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.CED.A.4

What is the simple interest on a housing loan of $350,000, over 30 years with a rate of 4.5%?

• $350,00

• $47,250

• $350,000

• $472,500

Tags

CCSS.7.RP.A.3

What would be the total amount of your student loan, if you had to pay back a loan of $10,550, at a rate of 3% over the course of 10 years ?

• $13,715

• $3165

• $31,650

• $10,550

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.REI.B.3

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

• $565.70

• $262609.38

• $65.70

• $630.20

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.B.4

Hei-Hei has $1500 in a retirement account earning 5% interest compounded annually. After 5 years how much does Hei-Hei have in the account?

• $1750

• $2010.14

• $2500

• $1914.42

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

Daniel invests $360 in a bank account that is compounded annually for 8 years with an interest rate of 5.5%. What will be the total amount in the account after the 8 years is over?

• $625.88

• $950.12

• $315.45

• $552.49

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

Caiden earned $475 from mowing lawns last summer.He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52                          

• $831.10                

• $839.45                    

• $846.80                  

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2