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Interest Word Problems
Quiz
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
Standards-aligned
Anthony Clark
FREE Resource
Enhance your content in a minute
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Jay'den 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
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Courtney saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?
$2201.25
$2694.55
$2707.45
$2708.63
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Given an investment of $1,500:
Which investment would have a larger balance after 5 years?
4% compounded monthly
3.9% compounded daily.
4% compounded monthly
3.9% compounded daily
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Charlie wanted to buy a blue F150 that costs $28,000. He went to the bank and took out a loan for 8% interest for 3 years. How much interest will he pay on this loan?
$6,720
$780
$2800
$500
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bob went to buy a used motorcycle for $5,750. The bank gave him a loan for 2.7% interest for 4 years. How much will he pay in interest for this loan?
$1261
$350
$621
$6,371
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which formula do you use for simple interest questions?
V = L x W x H
I = prt
y = mx + b
y = kx
Tags
CCSS.8.EE.C.7B
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
ChinLee bought a jet ski for $4,900 with a loan from his bank for 9% interest. He has to pay it back in 7 years. How much interest will he pay? How much is the total cost jet ski cost?
$3087 Interest
$7987 Total
$200 Interest
$5100 Total
$2050 Interest
$6950 Total
$6984 Interest
$0
Tags
CCSS.7.RP.A.3
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