3
QuizMultiple Choice

Simple Interest — Quiz

Question 3 • Grade 7 Mathematics

Jon invests 4 dollars comma 100 into an account that pays 5 percent simple interest each year. What is the total balance in the account after 3 years?

Answer
A
615 point 0 0 dollars
B
3 dollars comma 485 point 0 0
C
4 dollars comma 715 point 0 0
D
4 dollars comma 305 point 0 0

Explanation

Simple interest is calculated as principal × rate × time. Jon earns $4,100 × 0.05 × 3 = $615 in interest over 3 years. Adding the interest to the original $4,100 gives a total balance of $4,715, so the correct choice is $4,715.00.

AI-written and checked against the verified answer.

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