Simple and Compound Interest

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.3

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Find the simple interest paid on a loan of $4,750 at a rate of 19.5% for 30 months.

• $5

• $2315.63

• $27,787.50

• $926.25

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Semi-Annually means how many times a year?

• 4

• 2

• 1

• 6

Tags

CCSS.6.RP.A.3B

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Heather

invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest

compounded annually. What is the value of the CD at the end

of the 4 years?

• $9,394.92

• $9,312.00

• $1394.00

• $1312.00

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $4005.09

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

Cora invested $400 at a rate of 35% for 8 months, compounded continuously. How much is her investment worth after 8 months?

• $520.07

• $505.12

• $460.11

• $7,643.74

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.B.5

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

• $6.75

• $3.375

• $2,278.13

• $6,750

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3