Compound Interest

What principal will amount to $4500 if invested at 4% interest compounded quarterly for 5 years?

• $3463.04

• $3366.58

• $3687.95

• $3903.18

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04

• $1080.57

• $1057.95

• $902.18

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

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

• $1,225,54

• $2,225.54

• $22,255.40

• $225.54

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

Cam borrows $6500 off the bank. The interest rate is 5% compounded annually. It takes him 4 years to repay the money. How much INTEREST does he end up paying?

• 7900.79

• 1400.79

• 8300.56

• 1300

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

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

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

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 with10% interest compounded annually.Which option is better and how much will he save?

• A) A; $495.21 raise money for charity

• B) A; $573.83 get attention

• C) B; $495.21 get on the news

• D) B; $573.83 do something crazy