Simple and Compound Interest

Authored by Kaitlin Bucher Airola

Mathematics

8th Grade

8 covered

Used 6+ times

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MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

MATH RESPONSE QUESTION

5 mins • 1 pt

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

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8.12.D

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

DROPDOWN QUESTION

5 mins • 1 pt

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

3 years

Tags

8.12.D

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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?

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

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

What is the formula for simple interest?

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?

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?

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)

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?

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

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?

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Discover more resources for Mathematics

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?

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

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

What is the formula for simple interest?

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?

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?

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)

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?

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

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?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

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

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)

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