Liam has a store credit account that charges 22% annual interest, compounded monthly. If Liam makes no new purchases and does not make any payments,, how will the amount he owes grow over time?

Exponentially, each month the interest will be calculated based on the previous month's balance

Linearly, the same amount will be added each month based on his original balance

Linearly, the interest each month will be calculated on the previous month's balance

Exponentially, the same account will be added each month based on his original balance

Leo borrows money from an online lender that charges 18% annual interest, compounded monthly. She does not repay any of the loan during this time. How will her balance grow?

Exponentially, the interest each month is calculated on the previous month's balance

Linearly, the amount added each month stays the same because the interest is based on the original loan amount

Linearly, the interest increases each month based on the previous month's balance

Exponentially, the same amount of interest is added each month based on the original loan amount

Simple And Compound Interest

Simple and Compound Interest

Authored by MICHAEL VAN HOOSER

Mathematics

9th - 12th Grade

CCSS covered

Used 2+ times

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

LABELLING QUESTION

5 mins • 5 pts

Label each part of the formula

Compound Period

Rate

End Amount

Principle

Time

Tags

CCSS.HSF-IF.C.8B

LABELLING QUESTION

1 min • 5 pts

Label each part of the formula

Rate

End Amount

Principle

Compound Period

Time

Tags

CCSS.HSF-IF.C.8B

FILL IN THE BLANKS QUESTION

1 min • 1 pt

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)

FILL IN THE BLANKS QUESTION

1 min • 1 pt

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)

DRAG AND DROP QUESTION

1 min • 1 pt

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

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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?

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?

Label each part of the formula

Label each part of the formula

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)

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)

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.

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.

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Discover more resources for Mathematics

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?

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?

Label each part of the formula

Label each part of the formula

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)

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)

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.

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.

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Mathematics

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)

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)

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.

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.