Simple and Compound Interest
Authored by Shu Lee
Mathematics
9th - 12th Grade
CCSS covered
Used 1+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does P stands for in the simple interest formula ?
principle
Tags
CCSS.8.EE.C.7B
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The simple interest formula is as shown. The P represents the Principal Amount.
The Principal Amount is ___________________.
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The compound interest formula is as shown.
The A represents the ___________________.
the amount of money borrowed or deposited
the interest amount accumulated at end of of n times computation
the total amount accumulated at end of of n times computation
Tags
CCSS.HSF-IF.C.8B
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Ann puts $300 in a bank account earning 4% per annum simple interest.
How much interest will she earn in 3 years?
4
12
36
336
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Joe places $4000 in a bank for 7 years.
The bank offers an interest of 4% per annum compounded yearly.
What is the value for n I would use to compute the total amount Joe will get after 7 years?
n = 1
n = 7
n = 14
n = 28
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Joe places $4000 in a bank for 7 years.
The bank offers an interest of 4% per annum compounded yearly.
What is the value for r I would use to compute the total amount Joe will get after 7 years?
r = 4
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