Simple and Compound Interest

Front

Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?

Back

$26.25

Front

The principle in the simple interest formula I=Prt is:

Back

the amount of money borrowed or deposited

Front

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?

Back

$23040

Front

What does the "I" in the interest formula stand for?

Back

Interest

Front

Caiden's initial deposit: $475, Interest rate: 3.8% compounded annually, Time: 15 years. What will be his balance?

Back

$831.10

Front

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?

Back

$1837.56

Front

David invests $10,000 in a savings account that pays 3.5% simple interest. If David makes no withdrawals or deposits to the account, how much will be in the account after 7 years?

Back

$12,450

Front

Garrison deposited $500 in an account that earns 5% annual interest compounded annually. How much interest will the account earn after 4 years?

Back

$107.75

Front

Audrey deposited $2,800 in a savings account that pays 2.65% interest compounded annually. What is the total value of the account after 7 years?

Back

$3362.57

Front

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200