Simple and Compound Interest

Simple Interest

100

$34,000 at 4% for 3 years

What is $38,192.00?

200

$210 at 8% for 7 years

What is $327.60?

300

$4,000 at 3% for 4 years

What is $4,480.00?

400

$20,600 at 8% for 2 years

What is $23,896.00?

Compound Interest

100

$1,240 at 8% compounded annually for 2 years

What is $1,446.34?

200

$1,030 at 4% compounded semiannually for 2 years

What is $1,114.91?

300

$12,700 at 8.8% compounded semiannually for 1 year

What is $13,842.19?

400

$28,600 at 7.9% compounded semiannually for 2 years

What is $33,393.66?

Compound Interest

100

$1,500 at 7% compounded annually for 3 years

What is $1,837.56?

200

$7,300 at 7% compounded semiannually for 3 years

What is $8,973.56?

300

$18,000 at 9% compounded semiannually for 6 years

What is $30,525.87?

400

$55,000 at 16% compounded semiannually for 2 years

What is $74,826.89?

Simple/Compound Interest

100

Find the amount of savings if $1,000 is deposited for three years at 8% annual interest, compounded annually.

What is $1,259.71?

200

At the end of one year, what would be the total savings be on a principal of $500 at 4% annual interest, compounded annually?

What is $520.00?

300

Find the amount of savings if $1,000 is deposited for one year at 5% annual interest, compounded every six months.

What is $1,050.63?

400

At the end of one year, what would the total savings be on a principal of $500 at 4% annual interest, compounded quarterly?

What is $520.30?

Vocab

100

What is the principal?

Initial Amount 

200

What is the interest rate?

A percentage or decimal

300

Which interest is better for a savings account?

Compound

400

What is a loan?

When someone (a bank or financial institution) gives you money