TEKS.MATH.7.13E

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

• $220.50
• $457.60
• $660.60
• 237.60

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TEKS.MATH.7.13E

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

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TEKS.MATH.7.13E

If the balance at the end of eight years on an investment of $630 that has been invested at a rate of 9%, how much was the interest?

• $453.60
• $523.75
• $633.55
• $357.50

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TEKS.MATH.7.4D

TEKS.MATH.7.13E

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³
• 2000(1-0.02)¹³
• 2000(1+0.02)¹⁶
• 2000(1-0.02)¹⁶

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TEKS.MATH.7.4D

TEKS.MATH.7.13E

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

• Principal
• Interest
• rate
• time

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TEKS.MATH.7.13E

The Principal and Interest are always___________.

• fraction
• decimal
• percent
• money

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TEKS.MATH.7.13E

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%.  How much interest will she pay at the end of the 4 years?

• $5040
• $23040
• $504000
• $18000

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TEKS.MATH.7.4D

TEKS.MATH.7.13E

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

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TEKS.MATH.7.4D

TEKS.MATH.7.13E

Harley wants to buy a car that costs $15,000.  Bank One offers her a 3 year loan at a simple interest rate of 9%.  Bank Two offers her a 5 year loan at an annual compound interest rate of 3.5%.  Which bank offer should she choose?

• She will pay $1,234.70 less if she chooses Bank Two.
• She will pay $1,234.70 less if she chooses Bank One.

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TEKS.MATH.7.13E

Find the ending balance:
$1,400 at 4% for 60 months

• $1,456
• $1,680
• $280
• $1,703.31

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E