Simple and Compound Interest

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

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

Anne deposited $500 in an

account that earns 6% simple annual interest.

Shelly deposited $500 in an account that earns 6% annual interest

compounded annually. They leave the

money in the account for 4 years. Which

statement is true about the two investments after 4 years?

The difference between the Simple Interest Formula and the Compound interest formula is.....

Garrison

deposited $500 in an account that earns 5% annual interest compounded annually. If he makes no withdrawals or deposits, how

much interest will the account earn after 4 years?

Heather

invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest

compounded annually. What is the value of the CD at the end

of the 4 years?

Spongebob

deposited $800 in an account that earns 6% compounded annually. Squidward deposited

$800 in an account that earns 6% simple interest. How much TOTAL will each have

in their account at the end of 10 years if they make no withdrawals or deposits?

Carly

deposited $800 in an account that earns 6% compounded annually. Lara deposited

$800 in an account that earns 6% simple interest. How much will each girl have

in their account at the end of 10 years if they make no withdrawals or deposits?