TEKS.MATH.8.12D

A=p+prt
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

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

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TEKS.MATH.8.12D

TEKS.MATH.7.13E

TEKS.MATH.7.4D

What is the balance of $6000 compounded annually at a rate of 4% for 10 years?

• $8,881.47
• $7,432.93
• $8,400
• $6,500

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TEKS.MATH.8.12D

Principal = $500
Interest earned in 4 years = $60.
Find the interest rate.

• 1%
• 2%
• 3%
• 4%

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TEKS.MATH.8.12D

5)  Megan is currently in 8^th grade and wants to begin saving money for college.  She wants to invest $2000 in a simple interest account that pays at a rate of 3.5%.  How many years will she have to save for the account to gain $490 in simple interest? 

• 5 years
• 6 years
• 7 years
• 8 years

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TEKS.MATH.8.12D

10)  A compound interest account has accrued an account balance of $1,159.27 over the course of 5 years.  The interest rate paid was 3%.  Which is closest to the principal amount on the account?

• $1,000 
• $1,300
• $300
• $4,300

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TEKS.MATH.8.12D

12)  How much more interest is earned if $8,500 is invested into an account paying compound interest of 4% for   6 years compared to investing the $8,500 into an account paying simple interest of 4.5% for 5 years? 

• $1,912.50 
• $2,255.21 
• $8,842.71 
• $342.71

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TEKS.MATH.8.12D

Erik took out a loan for $8400 for 6 years at a compound interest rate of 5.5%. How much interest does Erik owe from the loan?

• $2,772
• $11,582.28
• $3,182.28
• $108,084.86

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TEKS.MATH.8.12D

TEKS.MATH.8.12A

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

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TEKS.MATH.8.12D

TEKS.MATH.7.13E

Twelve years ago, Claire deposited $1,800 in a savings account. It pays 2.5% simple interest. How much in interest did Claire earn in the account?

• $2,340

• $23,400

• $540

• $54

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TEKS.MATH.8.12D