Simple/Compound Interest

Lizbeth has a savings account with $2500 in it. The bank gives her a simple interest rate of 2% for each year. How much money will she have in TOTAL after 10 years?

• $5000

• $500

• $7000

• $3000

Tags

CCSS.7.RP.A.3

Find the balance in the account after the given period.

$3400 principal earning 3.6% compounded annually after 2 years

• $3,420.43

• $3,649.21

• $3,675.39

• $6,288.64

An investment of $9,875 earns 4.8% interest compounded monthly over 12 years. Approximately how much INTEREST is earned on the investment?

• $7,457.95

• $10,359.57

• $17,546.55

• $484.57

Tags

CCSS.HSF-LE.A.1C

Travis invests $25,000 in a savings account that pays 2.75% simple interest. How much interest does he earn each year? 

• $787.50
• $625.00
• $657.50
• $687.50

Tags

CCSS.7.RP.A.3

What is the formula for simple interest?

• A=P(1+r)^t
• I=Prt
• I=P(1+r)t
• A=Prt

Tags

CCSS.8.EE.C.7B

Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year

• $1,388
• $138.80
• $13.88
• None of the answers are correct.

Tags

CCSS.7.RP.A.3

Find the simple interest:
Principal: $6,000
Interest Rate: 5%
Time: 6 months

• $150
• $1,800
• $1,500
• $15,000

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________. 

• the amount of money borrowed or deposited
• the amount taxed
• the percent interest for this year
• the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt. What does the t represent?

• Principle

• Interest

• Time

• Percent Rate

Tags

CCSS.8.EE.C.7B