simple and compound interest practice

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

TEKS.MATH.7.4D

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

• $135

• $13,500

• $270

• $27,000

Tags

TEKS.MATH.7.4D

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

• $6.75

• $3.375

• $2,278.13

• $6,750

Tags

TEKS.MATH.7.4D

When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $20,960

• $1,080

• $12,960

Tags

TEKS.MATH.7.4D

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

• $480
• $3,480
• $4,800
• $7,800

Tags

TEKS.MATH.7.4D

Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.

• $338.00
• $33.80
• $33.75
• $337.50

Tags

TEKS.MATH.7.4D

Determine the simple interest earned:  p= $2000  r= 4.6%  t= 4 years

• $2370.00
• $348.00
• $2368.00
• $368.00

Tags

TEKS.MATH.7.4D

Christian opened a savings account with $3250. His account will earn 5.2% simple interest. How much money will be in his account after 6 years?

• $4,264.00
• $1,104.00
• $1,100.00
• $4,400.00

Tags

TEKS.MATH.7.4D

What is the ending balance of an account with $42,000 and earns simple interest at a rate of 3% for 5 years?

• $6,300.00
• $46,300.00
• $48,300.00
• $6,342.00

Tags

TEKS.MATH.7.4D

Sofia deposited $1,700 into a savings account that accumulates 1.8% interest. If she keeps the money in the account for 7 years, how much money will be in the account?

• $214.20
• $1,914.20
• $21,420.00
• $23,120.00

Tags

TEKS.MATH.7.4D