Compound Interest Practice

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

Loan amount: $25,690, Interest rate: 5.2% compounded monthly, Duration: 5 years. Total amount paid?

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? Options: $15,415.94, $15,683.28, $15,927.56, $16,349.72

Back

$15,683.28

Front

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

Back

$12,749.30

Front

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

Back

$2,706.86

Front

Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she have in 10 years?

Back

$4005.09

Front

What does the P stand for in this formula?

Back

Initial amount

Front

What does the r stand for in this formula?

Back

Rate

Front

What does the n stand for in this formula?

Back

The number of times compounded per year