Simple & Compound Interest

3)  Jose invests $200 into an account at a rate 2%.  He plans on keeping the account open for 15 years.  If it is a compound interest account, about how much money will he have in the account after 15 years?

• $60         
• $70
• $260       
• $270

Tags

CCSS.HSF-LE.A.1C

12)  How much more interest is earned if $8,500 is invested into an account paying compound interest of 4% for   6 years compared to investing the $8,500 into an account paying simple interest of 4.5% for 5 years? 

• $1,912.50 
• $2,255.21 
• $8,842.71 
• $342.71

An investor puts $2,500 into a life insurance policy that pays 8.5% simple annual interest. If no additional investment is made into the policy, how much accumulated interest should the investor expect at the end of 10 years?

• $ 21,250.00

• $ 2,125.00

• $ 212.50

• $ 21.25

Tags

CCSS.7.RP.A.3

An employee put $5,000.00 in a retirement account that offers 9% interest compounded annually. The employee makes no additional deposits or withdrawals. Which amount is closest to the interest the employee will have earned at the end of 5 years?

• $ 229.09

• $450.00

• $ 2,250.00

• $ 2,693.12

Tags

CCSS.HSF-LE.A.1C

Javier wants to buy five more horses. The bank gives him a compound interest of 2% for 20 years for $15,000. How much will be pay in TOTAL?

• $575,063

• $21,000

• $6,000

• $22,289

Melanie wants to put $8,000 into a savings account.

BANK A - simple interest of 5% for 10 years

BANK B - compound interest of 5% for 10 years

Which bank will give her the most money in TOTAL?

• Bank A - $62,000

• Bank B - $13,031

• Bank A - $12,000

• Bank B - $16,289

Stephanie wants to put her $25,000 into a simple interest savings account.

BANK A - 4% for 10 years

BANK B - 6% for 6 years

Which bank will give her MORE interest?

• Bank A - $10,000

• Bank A - $100,000

• Bank B - $9,000

• Bank B - $90,000

Tags

CCSS.7.RP.A.3

Mr. Lopez has a savings account with $80,000 because he is rich. The account has a simple interest rate of 3%. How much INTEREST will he earn after 30 years?

• $152,000

• $720,000

• $72,000

• $89,000

Tags

CCSS.7.RP.A.3

Nathalie borrowed $25,000 from the bank to start an eyelash company. The bank gave her a compound interest loan with a 6.5% interest rate. How much will her TOTAL be after 15 years?

• $24,375

• $64,269

• $38,976

• $45,729,786

Tags

CCSS.HSF-LE.A.1C

Lizbeth has a savings account with $2500 in it. The bank gives her a simple interest rate of 2% for each year. How much money will she have in TOTAL after 10 years?

• $5000

• $500

• $7000

• $3000

Tags

CCSS.7.RP.A.3