Simple and Compound Interest

Simple Interest

100

I have invested $34,000 at 4% for 3 years. What is the total amount of my account worth?

What is $38,192.00?

200

I start with $210 at 8% for 7 years. What is the balance in my account?

What is $327.60?

300

After 4 years you have accumulated $4,480.00 at 3% simple interest. What was the original amount invested?

What is $4,000?

400

If you invested $20,600 and it grew to $23,896 in 2 years, what was the interest rate given by the bank?

What is 8%?

500

What is the amount of interest gained on this investment:

$14,000 at 6% for 9 years

What is $7,560?

Compound Interest

100

I have borrowed $1,240 at 8% compounded annually for 2 years. What is my total payback amount?

What is $1,446.34?

200

I have invested $1,030 at 4% compounded annually. The total balance in my account is $1,114.05. How long was my money invested?

What is 2 years?

300

Your bank statement says you have$13,817.60 from the original amount of $12,700 invested in 1 year. What is the interest rate for this money? 

What is 8.8%?

400

Your account balance is $33,297.30. The bank gave you a 7.9% interest compounded annually for 2 years. What was the original amount invested?

What is $28,600?

500

What is the amount of interest gained on this loan:

$130 at 9.4% compounded annually for 2 years

What is $25.59?

Compound Interest

100

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

What is $1,837.56?

200

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

What is $8,942.81?

300

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

What is $30,187.80?

400

What is the amount of interest gained on the following investment:

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

What is $19,008?

500

What is the amount of interest gained on the following investment:

$21,000 at 13.6% compounded annually for 4 years

What is $13,973?

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 amount in the bank account on a principal of $500 at 4% annual interest, compounded annually?

What is $520.00?

300

Find the amount of interest if $1,000 is deposited for one year at 5% simple interest.

What is $50?

400

At the end of one year, what would the total balance on a principal of $500 at 4% simple interest

What is $520?

500

At then end of two years, what would the total interest earned on a principal of $1,000 at 6% annual interest, compounded annually?

What is $123.60?

Simple/Compound Interest

100

At the end of five years, what would the total balance be on a principal of $10,000 at 6% annual interest, compounded annually?

What is $13,382.30

200

If you deposited $500 for four years at 6% annual interest, compounded annually, and you deposited the same amount in a simple interest account,which account would have more money and how much would the difference be?

Compound interest: $11.24 more

300

Anne deposited $600 in an account that earns 6% simple annual interest. Shelly deposited $400 in an account that earns 6% annual interest compounded annually. They leave the money in the account for 4 years. Which will have more money in their account? How much more money will they have?

Anne will have more money. She will have $239 more than Shelly

400

Which account should they choose to invest your $300 for 5 years.

 ● Account A earns 5% simple interest per year.

 ● Account B earns 5% interest compounded annually.

b. How much more do they earn by choosing the better account?

Account B will earn $7.88 more

500

After 7 years at 3% simple interest per year, your savings account earns $63. 

a. What is the principal?

b. How much money do you have left after

buying a $350 video game system?

a. $300

b. $13