Compound Interest

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 year?

• $827.52

• $831.10

• $839.45

• $846.80

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10

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

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.

• $2794.10

• $2738.11

• $2774.98

• $2807.11

Approximately what interest rate would be needed in order to grow and investment of $1400 to $2500 in 10 years if the interest was compound monthly?

• 5.96%

• 5.84%

• 5.81%

• 5.88%

Given an investment of$ 1,500:
Which investment would have a larger balance after 5 years?
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily. 

• Option 1

• Option 2

Given an investment of$ 1,500:
What would be the balance after 5 years if you chose option 1? 
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily. 

• $1822.95

• $1831.49

• $1824.67

• $18.26.75

Given an investment of$ 1,500:
What would be the balance after 5 years if you chose option 2? 
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily. 

• $1822.95

• $1831.49

• $1824.67

• $18.26.75