Simple Interest Practice
star
star
star
star
star
Last updated almost 3 years ago
7 questions
Required
1
What is the simple interest on this savings account when Todd deposits $1500 at 5% interest for 2 years?
What is the simple interest on this savings account when Todd deposits $1500 at 5% interest for 2 years?
Required
1
You want to invest $8000 for 2 years. How much will you earn if you have a simple interest accoutn at 4%
You want to invest $8000 for 2 years. How much will you earn if you have a simple interest accoutn at 4%
Required
1
3. A credit card has a balance of $4000. How much interest are you paying if you have 10% simple interest for 2 years?
3. A credit card has a balance of $4000. How much interest are you paying if you have 10% simple interest for 2 years?
Required
1
The owner of a company invests $12000 for 2 years. How much do they earn if they have a simple interest account at a 20% APR?
The owner of a company invests $12000 for 2 years. How much do they earn if they have a simple interest account at a 20% APR?
Required
1
If you are INVESTING money, would you rather have a simple interest account or a compound interest account (if rate and time and principal were the same)?
If you are INVESTING money, would you rather have a simple interest account or a compound interest account (if rate and time and principal were the same)?
Required
1
What is the biggest difference between simple and compound interest?
What is the biggest difference between simple and compound interest?
0
Challenge (if you want to try it!)What is the interest on a compound interest account for 3 years if the rate is 10% and the principal is $5,000?
Challenge (if you want to try it!)
What is the interest on a compound interest account for 3 years if the rate is 10% and the principal is $5,000?