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Module 2: Simple Interest Exit Ticket

Last updated 6 months ago

3 questions

4

Question 1

1.

A $900 deposit for 20 years earns a simple interest rate of 4%. How much interest was earned? (no spaces or words)

4

Question 2

2.

4

A $900 deposit for 20 years earns a simple interest rate of 4%. What was the total value on that account after 20 years? (no spaces or words. ADD the original deposit/principal to the interest)

Question 3

3.

Brayden invests $6,000 in an investment at an annual interest rate of 7%. What will his investment be worth at the end of six months? (Hint: the time has to be in years)