Classwork 2/13 8.12G

A student's parents invested $5,000 in a college savings account that pays 4.85% annual simple interest. No additional deposits or withdrawals will be made.

Which amount is closest to the interest earned on the account at the end of 15 years?

• $5,174.11

• $10,174.11

• $3,637.50

• $8,637.50

Tags

CCSS.7.RP.A.3

Ben deposits $1,750 into each of two savings accounts.

Account 1 earns 2.75% annual simple interest.

Account 2 earns 2.75% interest compounded annually.

Ben does not make any additional deposits or withdrawals. Which amount is closest to the difference between the interest Ben will earn in Account 1 and the interest Ben will earn in Account 2 at the end of 2 years?

• $96.25

• $1.32

• $97.57

• $193.82

Mr. Jenkins deposited $1,250 into an account. He made no additional deposits or withdrawals. Mr. Jenkins earned 4.25% annual simple interest on the money in the account.

What was the balance in dollars and cents Mr. Jenkins's account at the end of 4 years?

Tags

CCSS.7.RP.A.3

Gabriel deposits $2,500 into each of two savings accounts.

Account 1 earns 4% annual simple interest.

Account 2 earns 4% interest compounded annually.

Gabriel does not make any additional deposits or withdrawals. Which amount is closest to the sum of the balances Account 1 and Account 2 at the end of 3 years?

• $5,600.00

• $5,612.16

• $5,624.32

• $5,200.00

An employee put $5,000.00 in a retirement account that offers 9% interest compounded annually. The employee makes no additional deposits or withdrawals. Which amount is closest to the interest the employee will have earned at the end of 5 years?

• $229.09

• $450.00

• $2,250.00

• $2,693.12

Tags

CCSS.HSF-LE.A.1C

An investor puts $2,500 into a life insurance policy that pays 8.5% simple annual interst. If no additional investment is made into the policy, how much accumulated interest should the investor expect at the end of 10 years?

• $21,250.00

• $2,125.00

• $212.50

• $21.25

Tags

CCSS.HSF.BF.A.2

Mr. Wilkins deposited $2,500.00 into a new account at his bank.

The bank pays 6.5% interest compounded annually on this account.

Mr. Wilkins makes no additional deposits or withdrawals.

Which amount is closest to the balance of the account at the end of 2 years?

• $2,835.56

• $2,513.00

• $2,662.50

• $2,825.00

Tags

CCSS.HSF-LE.A.1C

Mr. Flores opened an account with a deposit of $5,000.00

The account earned annual simple interest.

He di not make any additional deposits or withdrawals.

At the end of 4 years, the balance of the account was $6,500.

What is the annual interest rate of this account?

• 5.8%

• 7.5%

• 3.3%

• 1.9%

Tamara invested $15,000 in an account that pays 4% annual simple interest. Tamara will not make any additional deposits or withdrawals. How much interest will Tamara earn on her investment at the end of 3 years?

• $1,800

• $600

• $450

• $1,873

Tags

CCSS.7.RP.A.3

Nicolas has $650 to deposit into two different savings accounts.

Nicolas will deposit $400 into Account 1, which earns 3.5% annual simple interest.

He will deposit $250 into Account 2, which earns 3.25% interest compounded annually.

Nicolas will not make any additional deposits or withdrawals. Which amount is the closest to the total balance of these two accounts at the end of 2 years?

• $672.13

• $695.00

• $694.25

• $694.51