Simple and Compound Interest

Simple and Compound Interest

8th Grade

20 Qs

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Simple and Compound Interest

Simple and Compound Interest

Assessment

Quiz

Mathematics

8th Grade

Hard

CCSS
HSA.CED.A.1, HSF.BF.A.2, 6.EE.B.7

+12

Standards-aligned

Created by

Shannon Martin

Used 1+ times

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20 questions

Show all answers

1.

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

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

2.

MULTIPLE CHOICE QUESTION

15 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

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

3.

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

CCSS.HSF.BF.A.2

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for simple interest?

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

5.

MATH RESPONSE 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?

Mathematical Equivalence

ON

Tags

CCSS.HSF.BF.A.2

6.

MULTIPLE CHOICE QUESTION

30 sec • 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

CCSS.HSF-LE.A.1C

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is the formula for calculating compound interest?

Media Image
Media Image

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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