Simple and Compound Interest Quiz

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56

• $337.56

• $30000

• $31500

What is the simple interest on a loan of $2000 at a rate of 5% per annum for 3 years?

• $200

• $300

• $400

• $500

Tags

CCSS.7.RP.A.3

If you invest $5000 at a compound interest rate of 4% per annum, how much will the investment be worth after 2 years?

• $5408

• $5200

• $5624.32

• $5800

Tags

CCSS.HSF.BF.A.2

Identify the principal amount in the following scenario: John invests $1500 at a rate of 6% per annum for 2 years.

• $1500

• $180

• $2

• $6%

Tags

CCSS.7.RP.A.3

• 3%

• 5%

• 4.5%

• 6%

Tags

CCSS.7.RP.A.3

Calculate the compound interest on $1000 for 3 years at an annual interest rate of 5%.

• $157.63

• $150

• $215.51

• $158.76

Tags

CCSS.HSF.BF.A.2

• 5 years

• 10 years

• 2.5 years

• 4 years

Tags

CCSS.7.RP.A.3

What is the total amount after 4 years if $6000 is invested at a compound interest rate of 3% per annum?

• $6749.27

• $6800

• $7128.18

• $6750

If the simple interest on a certain sum for 2 years at 6% per annum is $240, what is the principal amount?

• $2000

• $1000

• $4000

• $3000

Tags

CCSS.7.RP.A.3

A sum of money doubles itself in 10 years with simple interest. What is the annual rate of interest?

• 5%

• 10%

• 7.5%

• 20%

Tags

CCSS.7.RP.A.3