Test review Simple and Compound Interest

Test review Simple and Compound Interest

8th Grade

20 Qs

quiz-placeholder

Similar activities

Simple Interest

Simple Interest

7th - 8th Grade

16 Qs

Simple interest 2022

Simple interest 2022

8th Grade

15 Qs

Simple and Compound Interest

Simple and Compound Interest

8th Grade

20 Qs

Simple Interest

Simple Interest

7th - 8th Grade

15 Qs

8.12D  Simple and Compound interest

8.12D Simple and Compound interest

8th Grade

17 Qs

Simple Interest

Simple Interest

7th - 8th Grade

15 Qs

Financial Literacy Review

Financial Literacy Review

8th Grade

20 Qs

7th Grade Math Ratios and Proportion Review

7th Grade Math Ratios and Proportion Review

7th - 9th Grade

20 Qs

Test review Simple and Compound Interest

Test review Simple and Compound Interest

Assessment

Quiz

Mathematics

8th Grade

Medium

Created by

Susan Delacroix

Used 22+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Jeremiah deposits $1500 into each of two savings accounts.

-Account 1 earns 2.5% annual simple interest.

-Account 2 earns 2.5% interest compounded annually.

What is the sum of the balances of Account 1 and Account 2 at the end of 3 years?

$1727.84

$3227.84

$322.78

$3330.00

2.

FILL IN THE BLANK QUESTION

15 mins • 1 pt

Mr. Jenkins deposited $1,250 into an account. He earned 4.25% simple interest on the account. What was the balance, in dollars and cents, in the account at the end of 4 years?

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Juan borrowed $27,000 from a bank to purchase a car. If he borrows the money at 4.15% interest compounded annually for 5 years, how much interest will he pay on the car loan?

$126,160.21

$6,087.21

5,602.50

$1,120.50

4.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Mr. Bell deposited $2,500 in a new account at the bank. The bank pays 6.5% interest compounded annually. Which amount is closest to the balance of this account at the end of 2 years?

$2,835.56

$2,513.00

$2,662.50

$2,825.00

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

An investor puts $2,500.00 into a life insurance policy that pays 8.5% simple annual interest. If no additional investment is made into the policy, how much accumulated interest should the investor expect at the end of 10 years?

$21.25

$212.50

$2,125.00

$21,250.00

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Mr Garcia opened an account with a deposit of $3,000.

-The account earned annual simple interest.

-He did not make any additional deposits or withdrawals. -At the end of 2 years, the account balance was $3,348.

What is the annual interest rate on the account?

5.8%

1.9%

3.3%

7.5%

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Caden deposited $500 in an account that earns 3% interest compounded annually. How much interest will the account earn after 6 years?

$90

$100

$97.03

Not here

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?