Compound and Simple Interest Questions

Find the total amount of interest to the nearest cent. If the interest is compounded annually 2750 at 8% for 2 years what is the total amount of interest?

• 457.60

• 78.00

• 67.80

• 380.96

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

The simple interest formula is I=PRT. what does the t represent?

• Time

• Principle

• Rate

• Tables

Tags

CCSS.HSA.SSE.A.1

The simple interest formula is I=PRT. The P represents principle. the principle is??

• the money taken

• the money owned

• The amount of money borrowed or deposited

• the percentage

Tags

CCSS.HSA.SSE.A.1

Emilio borrows 1200 from a bank with 8% simple interest per year. How much will he pay back total in two years

• 69.99

• 578

• 786.35

• 1392

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

find the principle for a loan that has an earned interest of 3500 with an annual rate of 10 for 5 years.

• 550

• 7,000

• 13,500

• 78

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

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

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

I=PRT whee r represents rate. rates must be converted into a _______ before multiplying

• percentage

• fraction

• decimal

• mixed fraction

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Leroy borrowed 1500 at annual simple interest rate of 12%. he paid 270 in interest. For what amount of time will leroy borrow the money.

• 18 months

• 7 days

• 13 months

• 10 minutes

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

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

• Important
• Interest
• Internet
• Igloo

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

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