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?
Test review Simple and Compound Interest
Quiz
•
Mathematics
•
8th Grade
•
Medium
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
17 questions
8.12A-G - Personal Financial Literacy
Quiz
•
8th Grade
15 questions
Calculating for Interest
Quiz
•
7th Grade - University
17 questions
Simple Interest Solving for I
Quiz
•
8th Grade - University
24 questions
Simple and Compound Interest HW
Quiz
•
8th Grade
17 questions
8.12D Simple and Compound interest
Quiz
•
8th Grade
20 questions
Financial Literacy Review
Quiz
•
8th Grade
18 questions
Personal Financial Literacy
Quiz
•
8th Grade
19 questions
MMA Simple & Compound Interest Quiz
Quiz
•
8th - 12th Grade
15 questions
Multiplication Facts
Quiz
•
4th Grade
20 questions
Math Review - Grade 6
Quiz
•
6th Grade
20 questions
math review
Quiz
•
4th Grade
5 questions
capitalization in sentences
Quiz
•
5th - 8th Grade
10 questions
Juneteenth History and Significance
Interactive video
•
5th - 8th Grade
15 questions
Adding and Subtracting Fractions
Quiz
•
5th Grade
10 questions
R2H Day One Internship Expectation Review Guidelines
Quiz
•
Professional Development
12 questions
Dividing Fractions
Quiz
•
6th Grade