Simple and Compound Interest Word Problems

Compound Interest
The ending balance on an investment is $248.29. If the principal was invested at 3% compounded annually for eight years, what was the principal? 

• $296

• $196 

• $169

• $170

Compound Interest
What is the interest rate if a principal of $892 earns $523.49 in interest compounded annually in six years?

• 8% 

• 10%

• 12%

• 6%

Compound Interest
The ending balance on an investment is $802.99. If the principal was invested at 4% compounded annually for five years, what was the principal?

• $545

• $660 

• $382

• $198

Compound Interest
You put $547 into an investment at 5% compounded quarterly for two years. What will the balance be at the end of two years?

• $332.34

• $487.86

• $504.18

• $604.15

Compound Interest
At what rate was an investment made that obtains $136.84 in interest compounded quarterly on $320 over four years? 

• 8%

• 7%

• 9% 

• 10%

How long must $277 be invested at a rate of 4% compounded quarterly to earn $22.95 in interest?

• 2 years

• 3 years 

• 1.5 years

• 3.5 years

What was the interest rate if your balance on an investment of $447 at the end of eight years is $721.52 and the interest was compounded monthly?

• 5%

• 4%

• 6%

• 8%

(Compound missing time-Logs)
If you received $217.90 on $986 invested at a rate of 4% compounded monthly, for how long did you invest the principal? 

• 2 years

• 7 years

• 4 years

• 5 years

In the simple and compound interest formulas, what does t stand for?

• theorem

• term

• time (in years)

• time (in months)

In the simple interest formula, what does r represent?

• rate

• range

• ratio

• reciprocal