Simple and Compound Interest Pt 1

Simple and Compound Interest Pt 1

12 Qs

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Simple and Compound Interest Pt 1

Simple and Compound Interest Pt 1

Assessment

Quiz

Practice Problem

Hard

Created by

Rose Bowen

Used 1+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

David

invests $10,000 in a savings account that pays 3.5% simple interest. If David

makes no withdrawals or deposits to the account, how much will be in the

account after 7 years.

$2,450

$11,750

$12,450

Not here

2.

MULTIPLE CHOICE QUESTION

30 sec • 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?

$600

$100

$607.75

$107.75

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually. What is the total

value of the account after 7 years?

$562.57

$3362.57

$14,514.15

$2,569,680

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

$800
$1,000
$1,200
$1,500

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The simple interest formula is I=Prt. What does the t represent?

Principle

Interest

Time

Percent Rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Write the percent as a decimal. 
4.3%

4.3
.43
.043
4300

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the "I" in the interest formula stand for?

Important
Interest
Internet
Igloo

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