Compound interest

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

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$12,749.30

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Dash puts $4125 into an account using compounded continuously. If he keeps the money in the account for 5 years and now has a total of $4193.89. What is the correct equation to use?

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Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, what is the correct equation to use to find out how much interest will she earn in 10 years?

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Equation to find the value of a $5,000 savings account with 4% interest compounded annually after 3 years? Options: A = 5,000(1 + 4)³, A = 5,000(1 + 0.04)³, A = 5,000(1 + 0.4) x 3, A = 5,000(0.04)³

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A = 5,000(1 + 0.04)³

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Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, what would the correct n value for the equation set up be?

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2

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Olivia buys furniture on credit with 9.5% interest compounded quarterly. What is the correct r value for the equation?

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0.095

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The principal amount (original amount)

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Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

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$565.70

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The interest rate