Simple and Compound interest

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.8.EE.C.7B

Using the Simple Interest Formula:

Starting money = $350, Interest rate = 2.5%, TIme = 3 years.

How much interest will be gained?

• $7.50

• $26.25

• $87.5

• $262.50

Tags

CCSS.7.RP.A.3

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually.

What is the total value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680

David invests $10,000 in a savings account that pays 3.5% simple interest.

If David makes no withdrawals or deposits to the account,

how much will be in the account after 7 years.

• $2,450

• $11,750

• $12,450

• Not here

Tags

CCSS.7.RP.A.3

Caiden earned $800 from mowing lawns last summer.

He deposited this money in an account that pays an

interest rate of 4.8% compounded annually.

What will be his balance after 6 years?

• $1060

• $260

• $1260

• $460

Aaron deposited $3,000 into a savings account. How much will Aaron have in his account after 5 years at an annual compound interest rate of 3.25%?

• $3520.23

• $520.23

• $4159.70

• $5482.14

QUESTION 4

• F

• G

• H

• J

Tags

CCSS.7.RP.A.3

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56
• $337.56
• $30000
• $31500

What does the "I" in the interest formula stand for?

• Important
• Interest
• Internet
• Igloo

Tags

CCSS.7.EE.B.4A

Garrison deposited $4700 in an account that earns

5% annual interest compounded annually.

How much interest will the account earn after 4 years?

• $5712.88

• $101.28

• $917.33

• $1012.87