compound and simple interest

Rachel invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in TOTAL?

(Interest + principal)

• $3,078

• $378

• $40,500

• $4536

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

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

• $160

• $800

• $80,000

• $16

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CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

Violeta Orpilla invested $4000 in an account that earns 5% interest yearly (simple interest). She forgets about it for 12 years. How much will be in the account after all that time?

• $2400

• $6400

• $4400

• $2200

• $6200

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

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Find the balance in the account after the given period.

$5000 deposit earning 1.5% compounded quarterly after 3 years

• $5,229.70

• $7,604.38

• $7,777.27

• $5,538.86

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

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CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

Find the balance in the account after the given period.

$13,500 deposit earning 3.3% compounded monthly after 1 year

• $13,611.38

• $14,898.84

• $13,537.13

• $13, 952.30

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CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

An investment of $9,875 earns 4.8% interest compounded monthly over 12 years. Approximately how much INTEREST is earned on the investment?

• $7,457.95

• $10,359.57

• $17,546.55

• $484.57

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

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Jamere deposits $2350 in an account that earns interest at a rate of 3.1%, compounded monthly. What is his ending balance after five years?

• $2743.98

• $2,743.45

• $2,362.01

• $10,856.16

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Find the INTEREST for a six-year CD for $5000 at an interest rate of 4%, compounded annually.

• $1,326.60

• $6,326.60

• $5,100.84

• $100.84

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CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

• Add 12 to the months
• divide the months by 12
• multiply 12 times the months
• You cannot change it to months.

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CCSS.HSN.Q.A.1

What does the P stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

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CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1