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8.12D Simple and Compound Interest
Authored by Y Conley
Mathematics
8th Grade
CCSS covered
Used 9+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What is the interest rate if the principal amount borrowed is $32,000 and $9600 is the interest over six years.
50%
0.5%
5%
0.05%
Tags
CCSS.7.RP.A.3
2.
FILL IN THE BLANKS QUESTION
3 mins • 1 pt
Victoria borrowed $4500 at a simple interest rate of 6% per year. What will be the total amount will she pay after 5 years for this loan?
(a)
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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?
4.
MATCH QUESTION
1 min • 1 pt
Determine what the variables mean in the simple and compound interest formulas.
Principal or original amount
I
time, in years
P
total amount accrued with interest
A
interest rate as decimal
t
interest
r
Tags
CCSS.8.EE.C.7B
5.
LABELLING QUESTION
1 min • 5 pts
Label each part of the formula
Tags
CCSS.HSF-IF.C.8B
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Jamar deposited $200 into a savings account. The account earns 2.5% annual compound interest. If Jamar makes no additional deposits or withdrawals, how much interest will he have earned at the end of 20 years?
$300
$100
$127.72
$327.72
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
John deposits $5,000 into each savings account.
- Savings Account 1 earns 3.5% simple interest
-Savings account 2 earns 3.5% compound interest
John does not make any additional deposits or withdrawals. What is the sum of the balances of both savings accounts at the end of 5 years?
$11,813.40
$5,938.43
$5,875.00
$11,750.00
Tags
CCSS.HSF.BF.A.2
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