8.12D Simple and Compound Interest Quiz

an specified amount of money paid or earned for the use of money.

• Interest

• Time

• Rate

• Principle

the original amount of money borrowed or deposited.

• Interest

• Rate

• Time

• Principle

the interest percentage.

• Interest

• Rate

• Time

• Principle

Tags

CCSS.HSF.LE.A.1

the period of time for which an amount of money is invested or borrowed.

• Interest

• Rate

• Time

• Principle

an interest calculation that is calculated only on the principle.

• Simple Interest

• Compound Interest

Tags

CCSS.HSF.LE.A.1

an interest calculation that is calculated using the principal and any interest remaining in an account.

• Simple Interest

• Compound Interest

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CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Brandon has invested $2,500 in a certificate of deposit that pays 4.25% simple annual interest for 3 years. At the end of 3 years, how much interest will Brandon have earned?

• $318.75

• $1,818.75

• $2,818.75

• $3,187.50

Answer explanation

Remember interest equals principal multiplied by the rate multiplied by the time in years.

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CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

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CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

Lucca has $1,000 to start a savings account. The account is a simple interest account with a rate of 5%. What will be the total of Lucca's account after investing the money for 10 years?

• 50

• 500

• 1,500

• 15,000

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.3

CCSS.HSF.LE.B.5

CCSS.HSN.Q.A.1