TEKS.MATH.8.12D

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

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TEKS.MATH.8.12D

I=p(1+r)^t-p
is the formula for _____.

• Simple interest
• Amount earned after simple interest
• Compound interest
• Amount earned after compound interest

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TEKS.MATH.8.12D

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

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TEKS.MATH.8.12D

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction
• decimal
• ratio
• dollar amount

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TEKS.MATH.8.12D

What is the 15% discount off of an $80 pair of sneakers?

• 15
• 12
• 8
• 10

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TEKS.MATH.8.12D

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

• $1,225,54

• $2,100.34

• $22,255.40

• $225.54

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TEKS.MATH.8.12D

compound means _____________

• principle added into the interest

• principle subtracted from the interest

• just interest

• flovela

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TEKS.MATH.8.12D

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

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TEKS.MATH.8.12D

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

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TEKS.MATH.8.12D

When Using the compound interest formula, what is the extra step you must take to get interest?

• add the principle

• subtract the principle

• multiply the principle

• leave it alone

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TEKS.MATH.8.12D