Future Value of Investments

Front

Hannah and Alex are 30 years old and want to retire at 65. They deposit $4,000 each year into an account that pays 3.4% interest, compounded annually. What is the account balance when Hannah and Alex retire?

Back

$261,493

Front

Spongebob and Squidward want to retire when they are 65, but they are currently 20 years old. They deposit $3,000 each year in a savings account that earns 2.9% interest, compounded semiannually. What will the balance be when they retire?

Back

$359,860.39

Front

Jessica and Michael open an online savings account that has 3.6% annual interest rate, compounded monthly. If they deposit $1,200 every month, how much will be in the account after 10 years?

Back

$173,022.87

Front

If you deposit $1,000 at 4.3% interest, compounded continuously, what would your ending balance be to the nearest cent after 5 years?

Back

$1,239.86

Front

If you deposit $1,500 at 4.9% interest, compounded continuously, what would your ending balance be to the nearest cent after 5 years?

Back

1,916.43

Front

If you deposit $9,000 at 4.75% interest, compounded continuously, what would your ending balance be to the nearest cent after 3 years?

Back

10,378.38

Front

Find the interest earned on $50,000 deposited for 6 years at 4 1/8% interest, compounded continuously

Back

$64,040.97

Front

Jenna opens a savings account deposited $600.00 as principal. The account earns 8% interest, compounded continuously. What is the balance after 1 year?

Back

$649.97

Front

Alexa puts $600.00 into an account to use for school expenses. The account earns 4% interest, compounded continuously. How much will be in the account after 4 years?

Back

704.11

Front

Brooke opened a savings account and deposited $600.00. The account earns 5% interest, compounded continuously. If she wants to use the money to buy a new bicycle in 1 year, how much will she be able to spend on the bike?

Back

$630.76