Fin Alg Types of Interest
Authored by Danielle Deutsch
Mathematics
12th Grade
CCSS covered
Used 3+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
April invests $300 at a 4.5% rate in an account that earns simple interest. How much interest will she earn after 2 years?
Tags
CCSS.8.EE.C.7B
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Lex has $1,780.80 in his savings account that he opened 6 years ago. His account has an annual interest rate of 6.8% compounded annually. How much money did Lex use to open his savings account?
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Ron and Amie opened an educational savings account for their daughter when she was born making a $5,000 initial investment. They were unable to ever add anything else to the account. What was the interest rate if they had $10,000 in the account after 12 years?
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Doug invested $2,500 into a CD that compounds annually for 10 years. If his money doubled in that time, what was the interest rate on the CD?
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An investment earns 3% each year and is compounded monthly. Calculate the total value after 6 years from an initial investment of $5,000.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years?
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Isabella deposited $500 into a savings account at a local bank that earned 5% interest. How much interest does she earn per year?
Tags
CCSS.6.EE.B.7
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