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

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

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

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much interest will they have paid after 30 years?

Back

$494,546.99

Front

Kennedy 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 interest will she earn in 10 years?

Back

$1,005.09

Front

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

Back

$1,706.86

Front

How much more money will Rob earn at Charter One over Town Bank after 25 years if he sets up a new account with $5,000?

Back

$1,251.63

Front

Twelve years ago, Claire put $1,800 in an account that pays an interest rate of 2.5% compounded semiannually. She now plans to take the money in that account and invest it in another account that earns 4% interest compounded monthly. How much money will be in this new account after 7 years?

Back

$3,207.40

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