Interest Quiz

Interest Quiz

8th Grade

8 Qs

quiz-placeholder

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Interest Quiz

Interest Quiz

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Medium

CCSS
7.RP.A.3, HSF-LE.A.1C

Standards-aligned

Created by

KERRIAN TOLIVER

Used 3+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

1) Gabby invested $100 into a savings account that earned simple interest at a rate of 1.5%.  She plans to keep the money in the account for the next ten years.  How much would she have in the account at the end of ten years?

$15
$115       
$116.05
$1,500

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

2) Jacob invested $400 into a savings account that earned simple interest at a rate of 1.25%.  He plans to keep it in the account for the next 10 years.  How much interest would he gain in the account after 10 years?

$50
$450       
$500       
$5,000

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

3)  Jose invests $200 into an account at a rate 2%.  He plans on keeping the account open for 15 years.  If it is a compound interest account, about how much money will he have in the account after 15 years?

$60         
$70
$260       
$270

Tags

CCSS.HSF-LE.A.1C

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

6)  Clay has 5 years to save money for a car.  He wants to invest $800 in the bank.  He has 2 banks to choose from. Wells Fargo offers a simple interest account with a rate of 4%.  Chase Bank offers a compound interest account with a rate of 4%. Which bank will provide Clay with the most money after 5 years?

Wells Fargo
Chase Bank

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

8)  Jose wants to save money for a house and finds two accounts that pay 3% in interest.  He wants to invest $3000.  He has 2 options to invest his money. Option A is a simple interest account with a time period of 10 years. Option B is a compound interest account with a time period of 12 years.  What would be his account balance in Option B?

$4,277.28
$900
$1,277.28
$1,080

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Rachel invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in TOTAL?

(Interest + principal)

$3,078

$378

$40,500

$4536

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

5 mins • 5 pts

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

$160

$800

$80,000

$16

Tags

CCSS.7.RP.A.3

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