Simple and Compound Interest

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

8.12.D

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

Tags

8.12.D

Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year

• $1,388
• $138.80
• $13.88
• None of the answers are correct.

Tags

8.12.D

What is the formula for simple interest?

• A=P(1+r)^t
• I=Prt
• I=P(1+r)t
• A=Prt

Tags

8.12.D

Garrison deposited $500 in an account that earns 5% annual interest compounded annually. If he makes no withdrawals or deposits, how much interest will the account earn after 4 years?

Mathematical Equivalence

ON

Tags

8.12.D

Mr. Diable invested $3,500 in a 7 year CD that pays 4.2% interest compounded annually. How much interest will the CD earn over the 7 years?

• $147.00

• $245.00

• $1,168.12

• $4,668.12

Tags

8.12.D

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

What is the principle? ​ (a)  

What is the rate? ​ (b)  

What is the time? ​ (c)  

• $5,000
• 5%
• 3 years

Tags

8.12.D

Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?

Mathematical Equivalence

ON

Tags

8.12.D

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• Interest (I)

• 2

• rate (r)

• 500

• time (t)

• 70

• Principle (P)

• Unknown

Tags

8.12.D

Felipe invested in a savings bond for 6 years and was paid simple interest at an annual rate of 3%. The total interest that he earned was $540. How much did he invest?

Mathematical Equivalence

ON

Tags

8.12.D