Bridge to Alg 2 - Compound Interest

What does A represent?

• Final Amount

• Principle Amount

• Interest Rate as a decimal

• Number of times interest is compounded per year

• Time in years

Tags

CCSS.HSF-IF.C.8B

What does P represent?

• Final Amount

• Principle Amount

• Interest Rate as a decimal

• Number of times interest is compounded per year

• Time in years

What does r represent?

• Final Amount

• Principle Amount

• Interest Rate as a decimal

• Number of times interest is compounded per year

• Time in years

What does n represent?

• Final Amount

• Principle Amount

• Interest Rate as a decimal

• Number of times interest is compounded per year

• Time in years

What does t represent?

• Final Amount

• Principle Amount

• Interest Rate as a decimal

• Number of times interest is compounded per year

• Time in years

Your 3 year investment of $20,000 received 5.2% interested compounded semi annually. What is your total return?

• $23,329.97

• $60,305.14

• $43,498.78

• $22,383.59

You borrowed $59,000 for 2 years at 11% which was compounded annually. What total will you pay back?

• $23,329.97

• $60,305.14

• $43,498.78

• $22,383.59

Your 6 year investment of $40,000 at 14% compounded quarterly is worth how much now?

• $23,329.97

• $60,305.14

• $43,498.78

• $22,383.59

You borrowed $1,690 for 5 years a at 5.7% compounded semi annually. What total will you pay back?

• $23,329.97

• $60,305.14

• $43,498.78

• $22,383.59

Which of the following items will most logically have the lowest interest rate?

• A New Car

• A New House

• A New Couch

• A New Cell Phone