Simple and Compound Interest/Rule of 72

The yearly interest payable on a deposit of $250 at 5.5% simple interest is:

• $137.50

• $13.75

• $12.50

• $125.00

• $1375.00

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CCSS.7.RP.A.3

The interest on $12,167 invested for 5 years at 2.5% simple interest would be nearest to:

• $1220.87

• $1521

• $1520.88

• $152.10

• $152.09

Tags

CCSS.7.RP.A.3

• 56%

• 5.6%

• 22%

• 0.55%

• 11.2%

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CCSS.6.RP.A.3C

Tom earned $504 when he invested 16,820 for 8 months. His rate of simple interest was:

• 0.37%

• 2.00%

• 3.00%

• 4.49%

• 5.00%

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CCSS.7.RP.A.3

John invested a sum of money, which earned $750 simple interest at the rate of 6% per year over 2 years. The amount invested was:

• $88.80

• $6250

• $3125

• $2125

• None of these.

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CCSS.7.RP.A.3

Cathy invested 8200 at the rate of 4.5%. It earned 738 simple interest. The period of investment was:

• 6 months

• 1 year

• 2 years

• 2 years 6 months

• 3 years

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CCSS.7.RP.A.3

How often would an investment be compounded if it is compounded semi-annually?

• 1 time

• 2 times

• 4 times

• 6 times

• 12 times

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CCSS.HSF-LE.A.1C

An investment of 10,000 at the rate of 8% per year, compounded quarterly, will reach 14,800 in close to:

• 1 year

• 2 years

• 3 years

• 4 years

• 5 years

An investment of $10 000 to be invested for a period of 5 years and compounded quarterly at 3.75% will have a future value closest to which of the following:

• $10,480

• $12,020

• $12,050

• $20,900

• None of the above.

Tom has the choice of investing his money in an account earning compound interest. Which situation would return him the most interest?

• Compounded yearly

• Compounded monthly

• Compounded quarterly

• Compounded semi-annually

• Compounded daily