Social Studies

An interest rate is a special type of (1 point)

loan.
**price.
bank.
service.

2.
How does a compound interest rate differ from a simple interest rate? (1 point)

***Compound interest rates pay more interest over time.
Compound interest rates are calculated only once a year.
Compound interest rates are usually lower than simple interest rates.
Compound interest rates apply to home mortgages only.

3.
Rising demand for a certain type of car will probably lead to (1 point)

lower interest rates for all types of vehicles.
lower interest rates for that type of car.
higher interest rates for all types of vehicles.
higher interest rates for that type of car. ****

4.
Rohan has $100.00 that he wants to save in a bank. Bank A offers two types of savings accounts. One has a 5% simple interest rate, and the other has a 4.8% compound interest rate. Bank B also offers two types of savings accounts. One has a 3% simple interest rate, and the other has a 4% compound interest rate. Which account should Rohan choose in order to earn the most interest? (1 point)

Bank A simple interest account
Bank A compound interest account****
Bank B simple interest account
Bank B compound interest account

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  1. 1) b
    2) a
    3)d
    4) b
    Can someone help me please? Thanks

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    2. 👎 0
  2. Your answers are right.

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    👩‍🏫
    Ms. Sue
  3. B
    A
    D
    B

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