Simple Interest
Find "I"
P: $34,000
R: 4%
T: 3 years
What is $4,080?
$1,240 at 8% compounded annually for 2 years
What is $1,446.34?
Pam opened an account at her bank with $300. The account pays 4.2% interest, compounded monthly. If she deposits $300 every month, how much will be in the account at the end of 3 years?
What is $11,488.51
Explain the Simple Interest Formula: Define each piece (I, P, R, T).
What is I = PRT?
I = Interest
P = Principle
R = Rate
T = Time
Harmony has a balance of $321.98. She deposits a personal check written to her for $232.00 for services. Her monthly car insurance debits her account for $132.48. What is her new balance?
What is $421.50?
How much interest is earned for $210 at 8% for 7 years?
What is $117.60?
$1,030 at 4% compounded quarterly for 2 years
What is $1,115.34?
George will need $25,000 for his school tuition in 6 years. How much will he need to deposit into an account that earns 3.35% interest compounded monthly to reach this goal?
What is $20,453.54
What you do to make sure your bank account matches the money you should actually have
What is reconciling/balancing?
How much is a $6000.00 annual payment divided up into monthly payments?
What is $500/month?
How much interest is earned for $4,000 at 3% for 4 months?
What is $40?
$12,700 at 8.8% compounded semiannually for 1 year
What is $13,842.19?
Sylvia wants to go on a cruise in 5 years. If she puts $1500 into an account that pays 2.25% interest compounded monthly, how much will she have at the end of the five-year period?
What is $1,678.43
The n stands for this in compound interest formulas.
What is the number of times compounded
Beth has $839.05 in her checking account. During the week, she deposits her paycheck of $310.95. The following week, she writes three checks in the following amounts: $53.95, $110.25, and $215.38. That same week, she also makes an ATM withdrawal of $120.00 and is charged a fee of $2.50. What is her current balance?
What is $647.92?
What is the account balance for $20,600 at 8% simple interest for 2 years?
What is $23,896.00?
$28,600 at 7.9% compounded monthly for 3 years
What is $36,220.67
Jessie deposits $2,000 into a savings account. Over 4 years, she is gaining simple interest at a rate of 7.8%. How much will be in her account after the 4 years?
What is $2,624
When money is added to your bank account automatically in the form of a paycheck without having to go to the bank.
What is direct deposit?
The PRVTHS bank charges a monthly maintenance fee of $4.00. Mark the Shark has $190.00 in his bank account, and withdraws $40.00 for his friend Larry the Lobster, from an ATM that charges a $2.95 service fee. How much is his balance?
What is $143.05?
Jane inherited $28,000 and decided to invest the money. She invested half into a savings account at 6% simple interest. She invested the other half in a CD at 7.7% simple interest. What is the difference between the 2 account balances if they are both invested for 5 years?
What is $1,190?
$130 at 9.4% compounded daily for 1 year
What is $142.81?
Josie has $30,000 to invest. She decides to put half of the money into a savings account that earns 2.6% interest compounded monthly. She placed the other half of the money into a CD that earns 3.4% interest compounded quarterly. What is the difference in amount earned after 6 years?
What is $849.19
A type of loan that charges a fee for not having the available funds.
What is overdraft protection?
Mario’s check register shows a balance of $775.98. The balance on the bank statement is $1,139.78. Not reported on the statement are deposits of $120.00 and $160.67 and three checks for $225.00, $189.95, and $241.96. Using these transactions, reconcile his account. Does his check register balance? If no, how much is it off by?
What is not balanced, by $12.44