Simple and Compound Interest GoFormative
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Last updated over 5 years ago
10 questions
10
Find the accumulated amount of an investment of $413.99 compounded at 4.25% for 8.5 years
Find the accumulated amount of an investment of $413.99 compounded at 4.25% for 8.5 years
10
Find the total amount of an investment of $150 at simple interest rate of 1.5% for 6 months
Find the total amount of an investment of $150 at simple interest rate of 1.5% for 6 months
10
Find the principal if the accumulated amount is $8495.20 after 3 years compounded at r = 2%
Find the principal if the accumulated amount is $8495.20 after 3 years compounded at r = 2%
10
Find the simple interest rate if $500 accumulated to $683.70 for an 11 year term
Find the simple interest rate if $500 accumulated to $683.70 for an 11 year term
10
How long would it take $120 to double at a simple interest rate of 3%?
How long would it take $120 to double at a simple interest rate of 3%?
10
Find the principal of a simple interest loan if A = $831.44, r = 0.4%, and time is 9 1/2 years
Find the principal of a simple interest loan if A = $831.44, r = 0.4%, and time is 9 1/2 years
10
Robert places $500.00 in the bank for 5 years at a simple interest rate of 12%. How much interest will he earn at the end of the five years?
Robert places $500.00 in the bank for 5 years at a simple interest rate of 12%. How much interest will he earn at the end of the five years?
10
To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay after three years?
To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay after three years?
10
John’s parents deposited $1000 into a savings account as a college fund when he was born. How much will John have in this account after 18 years at a yearly simple interest rate of 3.25%?
John’s parents deposited $1000 into a savings account as a college fund when he was born. How much will John have in this account after 18 years at a yearly simple interest rate of 3.25%?
10
Find time if A = $883.42, P = $750, compounded at 2.3%
Find time if A = $883.42, P = $750, compounded at 2.3%