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Simple and Compound Interest

Quiz by Donna Arnold

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Q 1/5
Score 0
Oliver deposited $1,400 in a savings account for 3 years and earned $210 in interest. What was the simple interest rate on the account? A) .5% B) 5% C) 4% D) .05%
29
D
B
A
C

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5 questions

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Q1
Oliver deposited $1,400 in a savings account for 3 years and earned $210 in interest. What was the simple interest rate on the account? A) .5% B) 5% C) 4% D) .05%
D
B
A
C
30s
Q2
Suzanne deposited $820 in the local bank. If the simple interest rate was 5.5%, what was the total amount in the account at the end of 4 years? A) $451.00 B) $180.40 C) $1,000.40 D) $1,271.00
B
D
A
C
30s
Q3
Marta deposits $15,000 in an account with 3% interest, compounded annually. After 3 years, how much interest will she have earned? A) $16,390.91 B) $1,390.91 C) $1,350.00 D) $16,350.00
A
B
D
C
30s
Q4
William borrows money to buy a $9,000 car. The interest rate on the loan is 4.5%, compounded annually. The loan is for 2 years. How much will William owe in total? A) $828.23 C) $810.00 B) $9,810.00 D) $9,828.23
D
C
A
B
30s
Q5
Rita has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest that Rita will be charged on this loan at the end of one year? A) $1,823.20 B) $47,403. 20 C) $18,232.00 D) $182.32
D
C
A
B
30s

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