Simple and Compound Interest

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

Tags

CCSS.7.RP.A.3

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, what will be the total amount of money in your savings account after three years?

• $375
• $42500
• $5375
• $37500

Tags

CCSS.7.RP.A.3

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%.  What is the total amount she will repay for the car loan?

• $504000
• $5040
• $23040
• $18000

Tags

CCSS.7.RP.A.3

John deposited $2,000 into a savings account. How much will John have in his account after 7 years at a simple interest rate of 3¼%?

• $2455

• $455

• 4550

• 6550

Tags

CCSS.7.RP.A.3

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, what will be the total amount of money in your savings account after three years?

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

Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car.  What is the total amount she will repay the bank for the auto loan?

• $31258.30
• $10258.30
• $981750
• $27165

Aaron deposited $3,000 into a savings account. How much will Aaron have in his account after 5 yearsat an annual compound interest rate of 3¼%?

• $3520.23

• $520.23

• $4159.70

• $5482.14

Use Compound Interest Formula to find the ending balance.

Your 3 year investment of $7,300 received 7% interest compounded semiannually. What is your total return?

• $8,973.56

• $44,190.10

• $8,942.81

• $1,533

Use Compound Interest Formula to find the ending balance.

Your 4 year investment of $21,000 received 13.6% interest compounded quarterly. What is your total return?

• $11,424

• $32,424

• $35,854.90

• $34,268.82

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