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

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

Back

$1,706.86

Front

Change 6.5% to a decimal

Back

.065

Front

Cora invested $400 at a rate of 35% for 8 months, compounded continuously. How much is her investment worth after 8 months?

Back

$505.12

Front

What does the n stand for in this formula?

Back

The number of times compounded per year

Front

Which of the following exponential equations is the formula for compound interest?

Back

Front

Quarterly means how many times a year?

Back

4