Compound interest

Front

Karla invested $1,000 in savings bonds with 6.75% interest compounded semi-annually for 15 years. How much total will Karla earn?

Back

$2,706.86

Front

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

Back

$15,683.28

Front

Expression to calculate Jasmine's savings after 3 years with continuous compounding at 8% interest on $4000.

Back

4000e^(.08)(3)

Front

Courtney saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?

Back

$2708.63

Front

Expression to determine how much money Bruno had in the account when he turned 16, given $2000 at 3 years old, 2% interest compounded annually.

Back

2000(1+0.02)¹³

Front

What does the n stand for in this formula?

Back

The number of times compounded per year

Front

What does the P stand for in this formula?

Back

Initial amount

Front

Compounded Continuously: Invested $400 at a rate of 35% for 8 months

Back

505.12

Front

Expression to calculate total amount for $500 deposit at 3% interest compounded quarterly for 5 years.

Back

500(1+.03/4)⁽⁴⁾⁽⁵⁾

Front

Shawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually. Which is the better option and how much will he save?

Back

Option B; $573.83