Skip to Content
13 questions
Show Answers
See Preview
- 1. Multiple-choice15 minutes1 pt
What are the two types of interest?
Simple Interest
Compound Interest
Complex Interest
Easy Interest
- 2. Fill-in-the-Blank15 minutes1 pt
How much simple interest does a #318 investment earn at 9% p.a. for 1 year?
- 3. Fill-in-the-Blank15 minutes1 pt
If you borrow $675 for six years at a simple interest rate of 10%, how much interest will you pay in total?
- 4. Fill-in-the-Blank15 minutes1 pt
Find the simple interest rate p.a. on a $1,500 loan with $1,125 charged interest over 3 years.
- 5. Fill-in-the-Blank15 minutes1 pt
Find the time in years that your investment of $500 will earn $200 in interest at a 10% p.a. simple interest rate.
- 6. Fill-in-the-Blank15 minutes1 pt
What is the Principal investment amount if after 8 years, the investment total is $3410 and has a 3% simple interest rate.
- 7. Fill-in-the-Blank15 minutes1 pt
Find the interest rate on a $895 investment with $716 earned in total simple interest over 5 years.
- 8. Fill-in-the-Blank15 minutes1 pt
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% p.a. compounded annually. What will be his balance after 15 years?
- 9. Fill-in-the-Blank15 minutes1 pt
Emily’s parents put $1,500 in her bank account for college tuition when she was born. At an interest rate of 8.25% compounded annually, what will be the balance after 18 years?
- 10. Fill-in-the-Blank15 minutes1 pt
The Henley's took out a loan for $195 000 to purchase a home. At a 4.3% p.a interest rate compounded annually, how much interest will they have paid after 30 years?
- 11. Fill-in-the-Blank15 minutes1 pt
Riley received $2 663.90 in savings bonds. If the bonds earn 6.75% p.a. interest compounded annually, how much was originally invested 15 years ago?
- 12. Fill-in-the-Blank15 minutes1 pt
Shawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A offers a 6 year loan with 8.5% p.a. interest compounded annually, while Option B offers a 5 year loan with 10% simple interest compounded annually. How much more interest will be charged for option A over option B?
- 13. Fill-in-the-Blank15 minutes1 pt
An investment account has $2 313.06 in it after Shelly invested $1 000 six years ago. What compound interest rate per annum did the investment account have?
