Compound Interest Quiz

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94

• $15,614.00

• $15,927.56

• $16,109.05

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?

• $826.50

• $831.10

• $839.45

• $846.80

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

• $1,225,54

• $2,100.00

• $22,255.40

• $225.54

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?

• $412,749.79

• $529.305.61

• $688,350.00

• $640,891.53

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $3990.00

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

• $2,700.00

• $1,825.10

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.6.RP.A.3B

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Quarterly means how many times a year?

• 3

• 4

• 1

• 2