Week 5 Compound Interest

Front

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

Back

$831.10

Front

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually, what will be the balance after 18 years?

Back

$6,427.94

Front

Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years?

Back

$33,299.42

Front

Olivia buys furniture on credit with 9.5% interest compounded quarterly. She spent $7,400. How much will she have paid after 8 years?

Back

$15,683.28

Front

Change 6.75% to a decimal.

Back

0.0675

Front

Semi-annually means how many times a year?

Back

2

Front

You want to save $5,000 for a future family vacation. If the bank pays 4.3% compounded monthly for 3 years, how much will you need to invest to reach your vacation goal?

Back

$4,395.89

Front

Convert 7% to a decimal.

Back

0.07

Front

Convert 142% to a decimal.

Back

1.42

Front

To change the percent into a decimal you must...

Back

Move the decimal to the left two spaces