Simple Interest, Compound Interest, & Exponential Growth/Decay

Question #7

Ike invests $7,660 in an account paying 7.27% simple interest annually. How much will IKe have in his account after four years?

A. $222.75

B. $9,887.53

C. $1,392.20

D. $13,922.05

• A

• B

• C

• D

Tags

CCSS.HSF.BF.A.2

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually, what will be the balance after 18 years?

• $6,273.50

• $6,314.08

• $6,385.72

• $6,427.94

Middletown High School has student elections every year. Lately, the school has seen a 5% decrease in voting from election to election. If 910 students voted this year, how many will be expected to vote 8 years from now? (Round to the nearest whole number if necessary).

• 604

• 777

• 29

• 198

Tags

CCSS.HSF-LE.A.1C

The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?

• 9766
• 9006
• 9765
• 5433

Tags

CCSS.HSF.BF.A.2

To be able to go on a trip to South America, Ann decides to save for 4 years. She opens a savings account with $300. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits. What will the total amount in the account be (including interest)?

Mathematical Equivalence

ON

Tags

CCSS.HSF.BF.A.2

Find the balance in the account after the given period.

$5000 deposit earning 1.5% compounded quarterly after 3 years

• $5,229.70

• $7,604.38

• $7,777.27

• $5,538.86

A publishing industry report predicts that magazine subscriptions will drop by 10% each year. If this prediction is correct, then how many subscribers will a magazine with 98,000 subscribers have in 10 years? (Round to the nearest whole number if necessary).

• 34,170

• 16,348

• 7690

• 76,023

Tags

CCSS.HSF.BF.A.2

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% simple interest, how much will she have in total in her account at the end of 10 years?

• $8700

• $38,700

• $870

• $3,870

Tags

CCSS.7.RP.A.3

Chris borrowed $8,000 from a lender that charged simple interest at an annual rate of 7%. When Chris paid off the loan, he paid $9,680 in total. How long was the loan for, in years?

Mathematical Equivalence

ON

Tags

CCSS.7.EE.B.4A

Your 6 year investment of $40,000 at 14% compounded quarterly is worth how much now?

• $928,488.27

• $49,170.21

• $91,333.14

• $51,333.14