Form 7: Simple Interest and Savings Exercise

Form 7: Simple Interest and Savings

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Form 7: Simple Interest and Savings

Explore simple interest calculations and savings growth. Practice finding total interest earned based on rates and principal values.

Questions

  1. MultiChoice

    You deposit $100 in a savings account with 5% annual interest. How much interest is earned in 1 year?

  2. MultiChoice

    A principal of $200 earns 3% interest per year. How much interest is earned in 1 year?

  3. MultiChoice

    You borrow $500 at 4% interest for 1 year. How much interest do you pay?

  4. MultiChoice

    An account has $400 and earns 2% interest in 1 year. What is the total balance after 1 year?

  5. WordsBox

    Interest is money paid for borrowing or ____ a principal ____

  6. MultiChoice

    Deposit $300 at 10% annual interest. How much interest is earned in 1 year?

  7. MultiChoice

    Borrow $1000 at 5% annual interest. How much interest after 1 year?

  8. MultiChoice

    Deposit $500 at 6% annual interest. What is the total amount after 1 year?

  9. MultiChoice

    An investment of $800 earns 5% interest in 1 year. How much interest is earned?

  10. MultiChoice

    Deposit $250 at 4% annual interest. How much interest after 1 year?

  11. MultiChoice

    Borrow $100 at 12% interest for 1 year. What is the total repayment amount?

  12. WordsBox

    Principal is the initial ____ of money before ____ is added.