แผ่นงานSimple and Compound Interest Practice
คำถามทั้งหมด: 22
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1.
A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?
a)
$5375
b)
$375
c)
$37500
d)
$42500
2.
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. How much interest will she pay at the end of the 4 years?
a)
$5040
b)
$23040
c)
$504000
d)
$18000
3.
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?
a)
$504000
b)
$5040
c)
$23040
d)
$18000
4.
John deposited $2,000 into a savings account. How much will John have in his account after 7 months at a yearly simple interest rate of 3¼%?
a)
$2455
b)
$455
c)
$37.92
d)
$2037.92
5.
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after three years?
a)
$337.56
b)
$1837.56
c)
$31500
d)
$30000
6.
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, how much interest will you earn in three years?
a)
$1837.56
b)
$337.56
c)
$30000
d)
$31500
7.
Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car. What is the total amount she will repay the bank for the auto loan?
a)
$31258.30
b)
$10258.30
c)
$981750
d)
$27165
8.
Kara borrowed $21,000 for 5½ years at an annual compound interest rate of 7.5% to buy a car. How much interest will she pay on top of the principal at the end of the 5½ years?
a)
$31258.30
b)
$27165
c)
$10258.30
d)
$981750
9.
Ricco deposits $500 in an account that earns 2.5% interest compounded annually for 3 years. Wally deposits $500 in an account that earns 5.1% interest compounded annually for 2 years. Who will earn the greatest amount of interest?
a)
Ricco will earn $13.85 more than Wally
b)
Wally will earn $13.85 more than Ricco
10.
Harley wants to buy a car that costs $15,000. Bank One offers her a 3 year loan at a simple interest rate of 9%. Bank Two offers her a 5 year loan at an annual compound interest rate of 3.5%. Which bank offer should she choose?
a)
She will pay $1,234.70 less if she chooses Bank Two.
b)
She will pay $1,234.70 less if she chooses Bank One.
11.
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
a)
the amount of money borrowed or deposited
b)
the percent interest for his year
c)
the amount taxed
d)
the amount the bank owes you for being a customer at their bank
12.
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
a)
$800
b)
$1,000
c)
$1,200
d)
$1,500
13.
Find the balance in the account after the given period.
$12,000 principal earing 4.8% compounded annually after 7 years.
a)
$3,243.19
b)
$16,661.35
c)
$15,243.19
d)
$4,661.35
14.
Find the balance in the account after the given period.
$3400 principal earning 3.6% compounded annually after 2 years
a)
$3,420.43
b)
$3,649.21
c)
$3,675.39
d)
$6,288.64
15.
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?
a)
$827.52
b)
$831.10
c)
$839.45
d)
$846.80
16.
Find the following Balance:
$600 invested at 6% compounded annually for 7 years.
$600 invested at 6% compounded annually for 7 years.
a)
$2273.04
b)
$1080.57
c)
$1057.95
d)
$902.18
17.
Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?
a)
$47,798.90
b)
$87,798.90
c)
$127,798
d)
$7,798
18.
You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually. How much extra did you pay by taking out the loan?
a)
$602.45
b)
$2,292.45
c)
$1,87.55
d)
$3,982.45
19.
The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?
a)
$412,749.79
b)
$529.305.61
c)
$689,546.99
d)
$640,891.53
20.
If you are calculating the simple interest and you are given the time in months. How can you find the time in years?
a)
divide 12 by the months
b)
multiply 12 times the months
c)
divide the months by 12
d)
change the months to a decimal
21.
Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year
Principal: $1735
Interest Rate: 0.8%
Time: 1 year
a)
$1,388
b)
$138.80
c)
$13.88
d)
None of the answers are correct.
22.
Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?
a)
$565.70
b)
$262609.38
c)
$65.70
d)
$630.20
แป้นคำตอบSimple and Compound Interest Practice
คำถามทั้งหมด: 22
1.
b) $375
2.
a) $5040
3.
c) $23040
4.
d) $2037.92
5.
b) $1837.56
6.
b) $337.56
7.
a) $31258.30
8.
c) $10258.30
9.
b) Wally will earn $13.85 more than Ricco
10.
a) She will pay $1,234.70 less if she chooses Bank Two.
11.
a)
the amount of money borrowed or deposited
12.
c) $1,200
13.
b)
$16,661.35
14.
b)
$3,649.21
15.
b) $831.10
16.
d) $902.18
17.
b) $87,798.90
18.
a) $602.45
19.
c) $689,546.99
20.
c) divide the months by 12
21.
c) $13.88
22.
a)
$565.70
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