Compound Interest and Algebraic Process

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

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they have paid after 30 years?

• $412,749.79

• $429,305.61

• $503,774.21

• $494,546.99

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

• 4%
• 2%
• 3%
• 1.5%

Find the simple interest on #5,400 for 10months at 5% per annum.

• #270.00

• #150.00

• #300.00

• #225.00

• 6
• -8
• -10
• -12

• -5

• 5

• 6

• 8