Simple and Compound Interest Practice

Use simple interest to find the ending balance.

$34,100 at 4% for 3 years

Tags

CCSS.7.RP.A.3

Use simple interest to find the ending balance.

$210 at 8% for 7 years

Tags

CCSS.HSF.BF.A.2

The ending balance on an investment is $248.29. If the principal was invested at 3% compounded annually for eight years, what was the principal?

• $301

• $196

• $744.12

• $899.34

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.REI.A.2

$2,300 at 7% for 9 years

• $4,480.00

• $3,749.00

• $2,208.28

• $7,594.25

Tags

CCSS.7.RP.A.3

$14,000 at 6% for 9 years

• $21,560.00

• $44,606.80

• $23,896.00

• $30,525.87

Tags

CCSS.7.RP.A.3

A bank is offering 3% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in 3 years?

• $5,450

• $450

• $4,500

• $45

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

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?

• $5,040

• $23,040

• $50,400

• $504

Tags

CCSS.6.EE.B.6

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 1 year?

• $105

• $1,605

• $1,717.35

• $300

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.A.1

When calculating interest, how do you write the percent?

• a fraction

• a decimal

• a whole number

• depends on the problem

Tags

CCSS.6.EE.B.6

If you put $85.81 into a savings account that earns 15%, how much interest will you receive at the end of three years?

• 48.61

• 38.61

• 29.63

• 74.12

Tags

CCSS.HSF.BF.A.2