111.28.B.12.d Simple and Compound Interest

Ian deposited $1000 into an account. He made no additional deposits or withdrawals. Ian earned 3.25% interest compounded annually for 5 years. Which is closest to the balance in the account after 5 years?

Kiara deposited $1225 into an account. She made no additional deposits or withdrawals. Kiara earned 3% interest compounded annually. Which is closest to the amount of money in Kiara’s account after 6 years?

Paulina deposited $1500 into an account. She made no additional deposits or withdrawals. Paulina earned 1.5% interest compounded annually. Which is closest to the amount of money in Kiara’s account after 8 years?

Victoria deposited $2000 into an account. She made no additional deposits or withdrawals. Victoria earned 5.5% interest compounded annually. Which is closest to the amount of interest Victoria earned after 9 years?

Joel deposited $400 into an account. He made no additional deposits or withdrawals. Joel earned 1.25% interest compounded annually. Which is closest to the amount of interest Joel earned after 2 years?

Mr. Anderson deposited $4000 into a bank account that earns simple interest. He makes no additional deposits or withdrawals. If his account balance is $4500 after 5 years, what is the annual interest rate on the account?

Mr. Mooney earned $800 of interest off a simple interest account that had an initial deposit of $2500 and an interest rate of 4%. If no other deposits or withdrawals were made, how long, in years, did Mr. Mooney keep the money in his account?

A simple interest account has earned $137.50. The interest rate was 1.25% over 4 years. What was the initial deposit into the account in dollars?

Ms. Kennedy is debating which interest account to invest her $7000: Account A: 5% simple interest for 4 years Account B: 3% interest compounded annually for 3 years Which account will give her the most money and by how much?

Ms. Richmond is investing in two different savings accounts. She deposits $500 into a savings account earning simple interest at a rate of 4.25% for 5 years. She also deposits $300 into a savings account earning 3 ½ % compounded annually for 5 years. What is the total sum of money that she will have after the 5 years?