Compound Interest
Authored by Holly McCarty
Mathematics
9th - 12th Grade
CCSS covered
Used 8+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Semi-Annually means how many times a year?
Tags
CCSS.3.MD.A.1
2.
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?
Tags
CCSS.HSA.CED.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
3.
MULTIPLE CHOICE QUESTION
45 sec • 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.
Tags
CCSS.HSA.SSE.A.1
CCSS.HSA.CED.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSA.SSE.B.4
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?
Tags
CCSS.HSF-LE.A.1C
5.
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 with10% interest compounded annually.Which option is better and how much will he save?
A) A; $495.21
B) A; $573.83
C) B; $495.21
D) B; $573.83
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Change 6.75% to a decimal.
Tags
CCSS.5.NBT.A.3
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the n stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
Tags
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.B.5
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