Simple and Compound Interest

• 1462.5

• 2641

• 146

• 14

Tags

CCSS.7.RP.A.3

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

Tags

CCSS.4.MD.A.1

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount

• The interest rate

• The time

To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.

• compound; lowest
• simple ; lowest
• compound ; highest
• simple ; highest

Tags

CCSS.7.RP.A.3

Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year

• $1,388
• $138.80
• $13.88
• None of the answers are correct.

Tags

CCSS.7.RP.A.3

Find the simple interest:
Principal: $6,000
Interest Rate: 5%
Time: 6 months

• $150
• $1,800
• $1,500
• $15,000

Tags

CCSS.7.RP.A.3

You want to borrow $1,240 for 2 years at an interest of 8% compounded annually. How much will you pay back by taking out the loan?

• $4464

• $1,186.30

• $1,446.34

• $2,215.68