Interest Quiz

Nora borrowed $2000 from Aiden to start her own business. Aiden agreed to lend her the money at an interest rate of 5% per annum. If Nora plans to return the money after 3 years, how much simple interest will she have to pay to Aiden?

• $50

• $100

• $150

• $300

Arjun invested $3000 in a savings account that offers an 8% annual interest rate. How much simple interest will he earn after 4 years?

• $400

• $240

• $960

• $600

Abigail borrowed $5000 from Anika to start a small business. If Anika charged her an interest rate of 6% per year, how much would be the simple interest that Abigail would have to pay back after 2 years?

• $1000

• $300

• $600

• $250

Henry borrowed $4000 from Aria to start a small business. If Aria charges him an interest of 10% per annum, how much would be the simple interest after 2 years?

• $200

• $800

• $400

• $600

Avery invested $4000 in a savings account that offers a 6% interest rate, compounded annually. If Avery leaves the money in the account for 2 years, how much compound interest will he earn?

• 1000

• 600

• 487.44

• 200

Hannah, Nora, and Mia decided to invest $6000 in a business venture. The business promised an 8% annual return, compounded annually. How much compound interest would they earn after 3 years?

• The compound interest is $2000

• The compound interest is $500

• The compound interest is $10000

• The compound interest is $1562.48

Sophia invested $8000 in a savings account that offers a 7% interest rate. If she leaves the money in the account for 2 years, compounded annually, how much compound interest will she earn?

• Sophia will earn $2000.00 in compound interest.

• Sophia will earn $500.00 in compound interest.

• Sophia will earn $1125.04 in compound interest.

• Sophia will earn $1000.00 in compound interest.

Emma, Samuel, and Olivia decided to invest their collective savings of $5000 in a local business that offers a compound interest rate of 4% per annum. How much will their investment amount to after 2 years?

• Their investment after 2 years will be $5,216.32

• Their investment after 2 years will be $5,080

• Their investment after 2 years will be $5,000

• Their investment after 2 years will be $5,100

Abigail gave John $3000 to invest in her name in a bank at a compound interest rate of 5% per annum. Ethan and Michael are curious to know how much money will Abigail get after 3 years?

• $3478.15

• $3300.75

• $3400.50

• $3150.00

Samantha, Arjun, and Benjamin decided to invest in a local business. Samantha decided to invest $2000 at a simple interest rate of 6% per annum. If the business runs successfully, how much interest will Samantha get after 4 years?

• $240

• $480

• $360

• $600