Simple Interest
A $600 deposit for 30 years at a simple interest rate of 2%. What is the interest earned?
$360.00
A $2400 deposit for 8 years compounded at an annual interest rate of 4.5%. What is the total value of the account?
Interest
Money given based on talents, grades, or other circumstances
Scholarships
BONUS
Everyone gets 100 points!
A $4100 deposit for 72 months at a simple interest rate of 3.4%. What is the total account balance?
$4936.40
A $3000 deposit for 66 months compounded at an annual interest rate of 1.6%. What is the interest earned?
$273.68
The act of repaying a loan, including any interest and fees.
Repayment
Money given usually based on a student's financial need
Grants
Guess the method of payment:
Ellie went out to eat with friends and paid by swiping a card. The cost of her meal was immediately taken out of her linked bank account.
Debit Card
Jesse deposited $5000 into a simple interest account. After 9 years, Jesse earned $3150 in interest. What was the interest rate of the account?
7%
Donna deposited $850 into an account that earns 2.9% compound interest. Find the amount of interest earned after 60 months.
$130.01
The length of a loan
Term
Darnell's first year of tuition will cost $10700. He qualifies for $6000 and grants. How much will he have to save each month for 2 years for his first year of college?
$195.83
Guess the method of payment:
Julie purchased a movie ticket and popcorn, and the cashier gave her $0.70 in change.
Cash
The total value of Kody's account was $2160 after 24 months. If the interest rate was 4%, what was Kody's initial deposit?
$2000
Kyle made a deposit into an account that earns 6% annual compound interest. After 36 months, the value of the account was $952.81. Find the approximate amount of Kyle's initial deposit into the account.
$800
Jameson has $4300 in credit card debt with 14% interest that he wants to pay off in 24 months. He will need to make monthly payments of $206.46 each month. What is his repayment amount and the interest he will pay?
Total Repayment: $4955.04
Interest: $655.04
BONUS
Everyone gets 400 points added to their total
Ryan needed to deposit a check. Instead of driving to the bank, he snaps a picture of the check using his cell phone and it is deposited to his account.
Online Banking
Tiana deposited $500 into an account that earns 6% simple interest. How many years will it take for the value of the account to reach $2000?
50 years
A $15000 deposit for 6 months compounded at an annual interest rate of 7%. Find the interest earned and the total account value.
Interest: $516.12
Total Value: $15516.12
Salvador inherited $20000 and he plans to invest it into a savings account that earns 6% interest compounded annually. Assuming he makes no additional deposits or withdrawals, what will be the total value of his account after 10 years?
$35816.95
Esther estimates that she will need about $8600 for the first year of tuition at college. Her grandparents contribution will cover 65% of the expenses and she will need to save the rest. If she has 2 years to save, what is the minimum amount that she should save each month?
$125.42
Guess the method of payment:
Forrest bought a pair of shoes by swiping his card at the store. He'll actually pay the balance at the end of the month.
Credit Card