Simple and Compound Interest

Samuel gets a loan of $4000 with an interest of 3.5% annually. After 6 years, how much does he owe in total?

• $6,857.14

• $840

• $3,160

• $4,840

Tags

TEKS.MATH.7.4D

Jason put $250 into a savings account with 3.25% interest compounded monthly. How much will be in the savings account after 4 years?

• $284.66

• $284.12

• $390

• $1,160.55

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

How much interest has accumulated 8 years after a $525 deposit into an account with 4% interest compounded annually?

• $718.50

• $168

• $693

• $193.50

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

Account 1 has $150 with an annual interest rate of 4%. Account 2 has $120 with a compounding annual interest of 3.5%. Find the difference between the two accounts after 5 years

• $37.48

• $180

• $142.52

• $30

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

Take the interest rates from question 4. If you had $100 to deposit into an account, which would have more money after 5 years? 10 years?

• 5 years: Account 2. 10 years: Account 1

• 5 years: Account 1. 10 years: Account 1

• 5 years: Account 1. 10 years: Account 2

• 5 years: Account 2. 10 years: Account 2

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

List the following 3 accounts on how much will be in the account after 10 years (from least to most)

Account 1: $100 with 2.5% annual interest
Account 2: $80 with 5% annual interest
Account 3: $80 with 3% compounded annual interest

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

From the accounts in Question 6, rank the accounts after 20 years

Tags

TEKS.MATH.AR.3A

From the accounts in Question 6, rank the accounts after 40 years

Tags

TEKS.MATH.AR.3A

Using Accounts 1 and 2 from question 6, after how many years do those accounts have the same amount (round to nearest hundredth)?

Tags

TEKS.MATH.2A.5D

At the time answered in Question 9, how much is in Account 1 or 2?

Tags

TEKS.MATH.AR.3A