Simple and Compound Interest One-Step

Josie invested $2,000 into a simple interest savings account with a rate of 5%. After 7 years how much interest will the account have earned?

• $70,000

• $700

• $70

• $7,000

Mrs. Zertuche is purchasing a house with a loan of $230,000 for 20 years. If the compound interest rate is 2.5%, how much in total will she end up paying at the end of the loan term?

• $115,000

• $102, 320

• $400 ,500

• $376, 882

Ana took out a loan for $1,575 with a 12% simple interest rate. How much interest will she pay after 9 years?

• $1,701

• $170,100

• $4,637.60

• $2,000

Mr. Sanchez is purchasing a home with a 30 year loan that is compounded annually. If his loan is for $250,000 and his interest rate is 1.8% what will be the total amount he pays for the loan?

• $426, 946

• $135,000

• $142, 000

• $523, 400

• $825,000

• $31,583.80

• $8,250

• $7,700

Kevin is taking out a loan for $7,500 with a compound interest rate of 8%. After 4 years how much will the total amount owed be?

• $2,400

• $10,203.70

• $3,000

• $8,760.30

Alondra is investing $3,000 into an account that earns 10% simple interest. After 3 years how much interest will she have earned?

• $90

• $3,000

• $3,993

• $900

• $250,000

• $650,000

• $674, 799

• $248,363

• $55,431.30

• $163, 993

• $76, 423

• $150,000

Alberto is investing $16,750 into a savings account that has a compounded interest rate of 3.75%. After 5 years how much money will be in the account, assuming he makes no additional deposits or withdrawals?

• $175, 450.30

• $3,500.27

• $3,140.63

• $20, 135.20