Interest Whole Group Practice

Match the word to the correct value of n.

• n = 4

• quarterly

• n = 2

• monthly

• n = 1

• weekly

• n = 12

• semi-annually

• n = 52

• annually

• $33,299.42      

• $33,672.68  

• $34,157.04        

• $34,710.88    

• $6,273.50

• $6,314.08

• $6,385.72        

• $6,427.94          

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

• $400

• $500

• $553

• $600

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay? Which formula will I use?

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest? Which formula will I use?

Tina invested $2,000 in a simple interest account and earned 8% rate for 5 years. What is the interest that she earned on the account? Which formula will I use?

A simple interest account earns $75 at a rate of 1.5% over the course of 5 years.  What was the principal amount on the account? Which formula will I use?