Simple Interest

1. Malik deposited $1,050 in a savings account, and it earned $241.50 in simple interest after four years. Find the interest rate on Malik savings account.

• 0.0575%

• 5.75%

• 6.75%

• 0.0675%

Tags

CCSS.6.EE.B.6

1. Mr. Brown has $410,000 in a retirement account that earns 3.85% interest each year. Find the amount earned each year by his investment.

• $15,785

• $3,654

• $17,332

• $8,117

Tags

CCSS.HSF.BF.A.2

1. When Melissa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the total amount in the account after 18 years.

• $12,960

• $8000

• $20,960

• $15,785

Tags

CCSS.HSF.BF.A.2

1. Robert won $900,000 in the North Carolina State Lottery. After paying $350,000 in taxes, he invested the remaining money in a savings account with a 4.25% interest rate. How much money is in the account if Robert makes no deposits or withdrawals for two years?

• $600,000

• $20,960

• $596,750

• $1,658,485

1. Consuelo deposited an amount of money in a savings account that earned 6.3% simple interest. After 20 years, she had earned $5,922 in interest. What was her initial deposit?

• $4700

• $1,256

• $489

• $2,156

Tags

CCSS.6.EE.B.7

1. A deposit of $2,500 grew to $3,325 after 6 years. What is the final value of a deposit of $7,500 at the same interest rate for the same period of time?

• $9000

• $9000

• $9500

• $9975