Calculating for Interest

How much money do you need to invest at 2.8% compounded continuously in order to have $25,500 at the end of 8 years? Round your answer to the nearest dollar

• $20,383

• $2,715

• $27,147

• $2,038

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest will be earned?

• $7.50

• $26.25

• $87.5

• $262.50

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95

• 105

• 125

• 135

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120

• $144

• $1,200

• $1,440

How do you calculate the balance in an account, with interest?

• Subtract the interest from the principle amount

• Multiply the principle, rate and time

• Add the interest to the principle amount

• Add the principle amount and the time

What would be the total amount of your student loan, if you had to pay back a loan of $10,550, at a rate of 3% over the course of 10 years ?
(Find the amount of interest and add it back to the amount of the loan.)

• $13,715

• $3165

• $31,650

• $10,550

You take out a car loan. How much will you pay in total for the car, if your loan is for $8000, at a rate of 5% interest, over 3 years?

• $1,200

• $120

• $920

• $9,200

Peter is calculating the interest earned on a deposit of $275 in an account that earns 8% simple interest for 12 years. Complete the formula to find the amount of interest Peter will earn.

b

d

e

12

275

0.12

0.08

0.8

Isabella is depositing $3,000 in an account that earns 4% compound interest. How much money will be in the account after 6 years?

d

g

b

a

0.04

0.06

p

6

3000

A

4