Compound Interest 3

Compound Interest 3

6th - 8th Grade

8 Qs

quiz-placeholder

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Compound Interest 3

Compound Interest 3

Assessment

Quiz

Mathematics

6th - 8th Grade

Hard

CCSS
7.RP.A.2, 7.RP.A.3

Standards-aligned

Created by

Kiersten Parker

Used 7+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is 7.25% converted to a decimal?

.725
0.725
0.0725
7.25

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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?

$827.52
$831.10
$839.45
$846.80

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Write the decimal as a percent. 
0.37

37%
3.7%
.37%

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Compounded Continuously Invested $400 at a rate of 35% for 8 months

$520.07

$487.62

$460.11

$7,643.74

5.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Jimmy invested $200 in a retirement account that had a rate of 20% that compounds annually. If Jimmy invests the money when he is 24 and takes it out when he is 64, how much money will be in his account?

$2,336,844.12

$29,395.43

$44.16

$4,747.53

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

James needs 1200 to fund a project. He borrows the money off the bank at an interest rate of 4.5% for 3 years compounded annually. Calculate how much interest he will pay.

1369.40

1268

169.40

162

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Dom invests $5000 with the commonwealth bank for 10 years. He gets an interest rate of 4% compounded annually. What is the total amount he gets back?

7401.22
$5000
2000
7231.65

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