Simple Interest
Compound Interest
Comparing Interest
Cost of College
Random
100
Mrs. Adams deposited $12,000 into an account that earns an annual simple interest rate of 3.25%. She makes no other deposits or withdrawals. How much interest will Mrs. Adams have earned at the end of 8 years?
$3,120
100
Mr. Wilkins deposited $2,500 in a new account at his bank. The bank pays 6.5% interest compounded annually on this account. Mr. Wilkins makes no additional deposits or withdrawals. What is the balance of the account at the end of 2 years?
$2,835.56
100
A deposit of $1,200 is made into each of two bank accounts. No additional deposits or withdrawals will be made for 4 years.
- Account I earns 1.5% annual simple interest.
- Account II earns 1.5% interest compounded annually.
Which amount is closest to the difference between the balances of the two accounts at the end of 4 years?
$1.64
100
Melinda is planning to attend a private university after she graduates from high school in 3 years. She is devising a plan to save money each month to help with the expenses of attending the university. The cost of attending the private university for one year is $22,500. Her family has promised to contribute $13,500 each year she is in school.
What is the minimum amount of money Melinda must contribute to her savings to have enough money to pay for her first year of tuition?
$250
100
Write the algebraic rule for the translation when the image move 4 down and 6 right.
(x,y) -> (x+6, y-4)
200
A deposit of $7,912 is made into a new account that earns 5.75% simple interest. No additional deposits or withdrawals will be made for 2 years. What is the balance in the account at the end of 2 years?
$8,821.88
200
Jacob deposited $6,000 into an account that offers 4.5% interest compounded annually. He makes no additional deposits or withdrawals. Which amount is the amount of interest Jacob will have earned at the end of 10 years?
$3,317.82
200
Valerie is considering various savings options.
- At Bank 1, she can invest $1,000 in a CD that earns compound interest at an annual rate of 2.4%.
- At Bank 2, she can invest $1,000 in a savings account that pays 2% simple interest upon withdrawal.
How much more money would Valerie earn in 5 years with the CD at Bank 1 than with the savings account at Bank 2?
$25.90
200
The cost of tuition at the college that Lacy wants to attend is $12,500 per year. Lacy’s family will pay 70% of the tuition cost each year. Lacy has two years to save enough money to attend her first year of college. What is the minimum amount that she should save each month in order to have enough money to attend her first year of college?
$156.25
200
Roxy and Randy are selling pancake breakfast plates to raise money for a class trip.
- Roxy is selling plates for $5.00 and has already raised $175.
- Randy is selling plates for $3.50 and has already raised $250.
Write AND solve the equation that can be used to find p, the number of plates that Roxy and Randy must sell so that the total amount raised is the same for both Roxy and Randy.
p = 50
300
Evelyn deposited $23,750 in a savings account that earns 5.3% simple interest. Evelyn has not made any deposits or withdrawals since she opened the account. How many years have passed since Evelyn opened the account if her latest balance is $28,785?
GO TO THE NEAREST YEAR.
4 years
300
Rachel currently has $836 in a savings account that has earned 4.5% annual compound interest for the past year. What was Rachel's beginning balance one year ago if she has made no other deposits during the year?
$800
300
Gabriel deposits $2,500 into each of two savings accounts.
• Account I earns 4% annual simple interest.
• Account II earns 4% interest compounded annually.
Gabriel does not make any additional deposits or withdrawals. What is the sum of the balances of Account I and Account II at the end of 3 years?
$5,612.16
300
Alejandra and her family are discussing how to pay for her college education. The cost of tuition at the college that Alejandra wants to attend is $15,700 per year. Alejandra’s parents will pay 85% of the tuition cost every year, and she will pay the rest. Alejandra has one year to save enough money to attend her first year of college. What is the minimum amount of money she should save every month in order to reach her goal?
$196.25
300
The value of y varies directly with x.
When y = 55, x = . What is the rate of change?
220