Simple and Compounded Interest
20 Qs
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Simple and Compounded Interest
Quiz
•
Mathematics
•
•
Practice Problem
•
Medium
+2
Standards-aligned
Carl Carmouche
Used 3+ times
FREE Resource
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Harley wants to buy a car that costs $15,000. Bank One offers her a 3 year loan at a simple interest rate of 9%. Bank Two offers her a 5 year loan at an annual compound interest rate of 3.5%. Which bank offer should she choose?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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?
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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?
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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?
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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?
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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