Week 5 Compound Interest
Flashcard
•
Other
•
10th - 12th Grade
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
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
2.
FLASHCARD QUESTION
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
3.
FLASHCARD QUESTION
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
4.
FLASHCARD QUESTION
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
5.
FLASHCARD QUESTION
Front
Change 6.75% to a decimal.
Back
0.0675
6.
FLASHCARD QUESTION
Front
Semi-annually means how many times a year?
Back
2
7.
FLASHCARD QUESTION
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
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