Simple and Compound Interest

Samuel gets a loan of $4000 with an interest of 3.5% annually. After 6 years, how much does he owe in total?

• $6,857.14

• $840

• $3,160

• $4,840

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CCSS.7.RP.A.3

Jason put $250 into a savings account with 3.25% interest compounded monthly. How much will be in the savings account after 4 years?

• $284.66

• $284.12

• $390

• $1,160.55

How much interest has accumulated 8 years after a $525 deposit into an account with 4% interest compounded annually?

• $718.50

• $168

• $693

• $193.50

Account 1 has $150 with an annual interest rate of 4%. Account 2 has $120 with a compounding annual interest of 3.5%. Find the difference between the two accounts after 5 years

• $37.48

• $180

• $142.52

• $30

Take the interest rates from question 4. If you had $100 to deposit into an account, which would have more money after 5 years? 10 years?

• 5 years: Account 2. 10 years: Account 1

• 5 years: Account 1. 10 years: Account 1

• 5 years: Account 1. 10 years: Account 2

• 5 years: Account 2. 10 years: Account 2

List the following 3 accounts on how much will be in the account after 10 years (from least to most)

Account 1: $100 with 2.5% annual interest
Account 2: $80 with 5% annual interest
Account 3: $80 with 3% compounded annual interest

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From the accounts in Question 6, rank the accounts after 20 years

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CCSS.8.F.A.2

CCSS.HSF.IF.C.9

From the accounts in Question 6, rank the accounts after 40 years

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CCSS.8.F.A.2

CCSS.HSF.IF.C.9

Using Accounts 1 and 2 from question 6, after how many years do those accounts have the same amount (round to nearest hundredth)?

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CCSS.HSF.LE.A.4

At the time answered in Question 9, how much is in Account 1 or 2?

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CCSS.8.F.A.2

CCSS.HSF.IF.C.9