Simple and compound interest

Simple and compound interest

8th Grade

11 Qs

quiz-placeholder

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Simple and compound interest

Simple and compound interest

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Hard

TEKS
MATH.7.4D, MATH.7.11A, MATH.2A.5B

+5

Standards-aligned

Created by

Mary Combrink

Used 31+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the simple interest for a loan with principal of $10,000, an interest rate of 6% and a time of 4 years?

$600

$2400

$24,000

$12,400

Tags

TEKS.MATH.7.4D

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

What is the simple interest for a loan with principal of $2,500, an annual interest rate of 6.25% and a time of 18 months?

$112.50

$2,812.50

$15, 625

$234.38

Tags

TEKS.MATH.7.4D

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A high school graduate works full time. She needs to borrow $1,500 to attend the local junior college, but she won't be able to pay it back for 2 years. Should she take out a loan for 18 percent annual simple interest,, or a loan with 12 percent annual compound interest?

The simple interest loan because the interest is $540.

The compound interest loan because the interest is $1881.60

The simple interest loan because the interest is $2040.

The compound interest loan because the interest is $381.60.

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Choose the best loan option.

A

B

C

D

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.3

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which amount is closest to the amount of interest?

F

G

H

J

Tags

CCSS.HSA.SSE.A.1

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

F

G

H

J

Tags

TEKS.MATH.7.4D

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

F

G

H

J

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

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