Compound Interest

Compound Interest

10th - 12th Grade

6 Qs

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Assessment

Quiz

Mathematics

10th - 12th Grade

Easy

CCSS
HSA.CED.A.1, HSA.SSE.A.1, HSF.BF.A.1

+2

Standards-aligned

Used 1+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

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

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

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

$15,683.28

$15,927.56

$16,109.05

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Annually means compounding how many times a year?

4

2

1

6

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Shawn is buying a new Jet Ski for $12,500. He is considering 2 credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually.Which option is better and how much will he save?

Option A; $495.21

Option A; $573.83

Option B; $495.21

Option B; $573.83

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Daily means compounding how many times a year?

7

365

360

52

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Quarterly means compounding how many times a year?

50

2

4

25