Simple and Compound Interest

Carlos invests $3,500 in a savings account that earns 3% simple interest annual. He makes no additional deposits or withdrawals. What will the balance be after 10 years?

• $4,500

• #3,800

• $4,100

• $5,600

Tags

CCSS.7.RP.A.3

Maria deposits $1,800 into an account with an annual simple interest rate of 4%. She leaves the money in the account for 12 years with no changes. What will the balance be after 12 years?

• $2,400

• $2,664

• $3,000

• $1,944

Tags

CCSS.7.RP.A.3

Label each part of the formula

b

a

c

d

e

Time

Principle

Compound Period

End Amount

Rate

Tags

CCSS.HSF-IF.C.8B

Label each part of the formula

b

a

c

d

e

Compound Period

End Amount

Time

Principle

Rate

Tags

CCSS.HSF-IF.C.8B

Sally deposits $750 into a savings account that earns 1.5% annual interest, compound monthly. She makes no further deposits or withdrawals. How much will be in her account after 3 years? Round to the nearest cent.

(a)  

Logan invests $1,200 in an account paying 2.4% annual interest, compounded monthly, with no additional deposits or withdrawals. How much money will he have after 4 years? Round to the nearest cent.

(a)  

Elena deposits $5,200 in a savings account that pays 3% annual interest, compounded monthly.

How much interest does the account earn in the first year? ​ ​ (a)  

What is the ending balance after one year? ​ (b)  

What is the balance after two years? ​ (c)  

• 158.16
• 5358.16
• 5521.14
• 156.00
• 5356.00
• 5515.58

Elena deposits $5,200 in a savings account that pays 3% annual interest, compounded monthly.

How much interest does the account earn in the first year? ​ ​​ ​ (a)  
What is the ending balance after one year? ​ ​ (b)  
What is the balance after two years? ​​ (c)  

• 68.21
• 3818.21
• 3889.05
• 67.50
• 3817.50
• 3884.46

Choose the word the BEST. completes the sentence.

Juan is investing $3,500 in a simple interest account. The money in the account can be modeled by ___________ growth.

• Compound

• Exponential

• Linear

• Quadratic

Choose the word that BEST completes the sentence.

Kevin is investing $7,000 in a simple interest account. The money in the account can be modeled by ________ growth.

• Compound

• Exponential

• Linear

• Quadratic