Interest & Trendlines

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%.  How much interest will she pay at the end of the 4 years?

• $5040
• $23040
• $504000
• $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

Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car.  How much interest will she pay on top of the principal at the end of the 5½ years?

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

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

Ricco deposits $500 in an account that earns 2.5% interest compounded annually for 3 years.  Wally deposits $500 in an account that earns 5.1% interest compounded annually for 2 years.  Who will earn the greatest amount of interest?

• Ricco will earn $13.85 more than Wally
• Wally will earn $13.85 more than Ricco

Both Ryan and Tom open their accounts with an initial deposit of $3500. They are both planning a six-year investment and will withdraw their money after 6 years. Who will have a greater balance in six years? How much more will that person have?

• Tom will have $83.77 more than Ryan.
• Ryan will have $83.77 more than Tom.
• Ryan will have $3416.23 more than Tom.
• Tom will have $3416.23 more than Ryan.

Rosie will deposit $1,420 in an account that earns 4% simple interest every year for 4 years. Her sister Avery will deposit $1,400 in an account that earns 6% interest compounded annually for 4 years.  What is the difference in the amount earned between the two sisters over the 4 years?

• Rosie will earn $120.27 more than Avery.
• Avery will earn $1540.27 more than Rosie.
• Rosie will earn $1540.27 more than Avery.
• Avery will earn $120.27 more than Rosie.