8.12D Simple Vs Compound Interest Review
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Last updated over 4 years ago
11 questions
1
The simple interest formula finds which on the following?
The simple interest formula finds which on the following?
1
Whould simple interest or comound interest generate more money?
Whould simple interest or comound interest generate more money?
1
How much more interest would compound interest earn over simple interest?
How much more interest would compound interest earn over simple interest?
1
To the left there are two savings accounts earning interest on the same principal, rate and time. Caclulate the balance on both accounts after 10 years.
To the left there are two savings accounts earning interest on the same principal, rate and time. Caclulate the balance on both accounts after 10 years.
1
Complete the calculations. Which account earns less interest? How much less?
Complete the calculations. Which account earns less interest? How much less?
1
Compare the balances. How much more will compound interest earn than simple interest?
Compare the balances. How much more will compound interest earn than simple interest?
1
Which loan produced less interest, and by how much?
Which loan produced less interest, and by how much?
1
1
Which one is true?
Which one is true?
1
Donnie will deposit $1,500 in an account that earns 4% simple interest annually. His brother Ronnie will deposit $1,600 in an account that earns 6% interest compounded annually.
The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of Donnie’s and Ronnie’s account at the end of 3 years is true?
A. Donnie’s account will have about $21.52 more than Ronnie’s account.B. Donnie’s account will have about $125.63 more than Ronnie’s account.C. Ronnie’s account will have about $21.52 more than Donnie’s account.D. Ronnie’s account will have about $125.63 more than Donnie’s account.
Donnie will deposit $1,500 in an account that earns 4% simple interest annually.
His brother Ronnie will deposit $1,600 in an account that earns 6% interest compounded annually.
The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of Donnie’s and Ronnie’s account at the end of 3 years is true?
A. Donnie’s account will have about $21.52 more than Ronnie’s account.
B. Donnie’s account will have about $125.63 more than Ronnie’s account.
C. Ronnie’s account will have about $21.52 more than Donnie’s account.
D. Ronnie’s account will have about $125.63 more than Donnie’s account.
1
Damarcus deposits $1,700 into each of two savings accounts.- Account 1 earns 3% annual simple interest.
- Account 2 earns 3% interest compounded annually.
Damarcus does not make any additional deposits or withdrawals. What is the sum of the balances of Account 1 and Account 2 at the end of 4 years?
A. $3664.36B. $1913.36C. $3817.36D. $2117.36
Damarcus deposits $1,700 into each of two savings accounts.
- Account 1 earns 3% annual simple interest.
- Account 2 earns 3% interest compounded annually.
Damarcus does not make any additional deposits or withdrawals. What is the sum of the balances of Account 1 and Account 2 at the end of 4 years?
A. $3664.36
B. $1913.36
C. $3817.36
D. $2117.36