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Algebra 1 Quiz: Simple Vs Compound Interest

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Algebra
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1. Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that? A. 800 B. 1000 C. 1500 D. 1200 E. None Of The Above 2. Julie borrowed $3,500 for 3 years at 7?% simple interest rate. How much interest is that? A. 735 B. 787.50 C. 810 D. 812.50 3. Sam bought a pair of shoes for $200. Every year, the value of the shoes depreciate 10% from the previous year. What is the value of the shoes after 3 years? 4. If the present value of my investment is $1,000 and the rate of interest is 10% compounded annually, what will the value be after 2 years? 5. I buy a lamborghini for $500,000. Every year my car loses value by 20%. How much money do I lose in value after two years? 6. ?AOC is a right angle and the ratio

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