Compound Interest 3

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

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

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

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

• $520.07

• $487.62

• $460.11

• $7,643.74

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

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

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

Julian's parents created two separate college funds for him when he was 4 years old. They invested $300 in each account, but the interest on one account compounded yearly at 8.6% and the other was a simple interest account at 10% interest. When Julian turned 18 and went to college he used this money to pay for school. How much money did he have to use?

• $1,672.22

• $720.00

• $952.22

• $1,372.22