Compound Interest Formula

Front

This formula is to calculate...

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The final amount including the principal value and the compound interest

Front

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

Back

$12,749.30

Front

Semi-Annually means how many times a year?

Back

2

Tags

CCSS.HSF-LE.A.1C

Front

What does the r stand for in this formula? Options: Initial amount, Final amount, Interest Rate, Time, The number of times compounded per year

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Interest Rate

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Jesus borrowed $59,000 for 2 years at 11% compounded annually. What is the total amount owed after 2 years?

Back

$72,693.90

Front

If your money is compounded quarterly, what value do you use for n?

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4

Tags

CCSS.HSF-LE.A.1C

Front

Maya 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 (PROFIT) will she earn in 10 years?

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$1,005.09

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

Back

$1,706.86

Front

55% is written as___ as a decimal.

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0.55

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Your 5 year investment of $17,500 received 6.7% interest compounded annually. What is your total return?

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$24,202.50