Compound Interest Quiz

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

What does the P stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Tags

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

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

What does the r stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Tags

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.3.MD.A.1

bi-weekly means how many times a year?

• 48

• 26

• 52

Tags

CCSS.6.RP.A.3B

What is the correct definition of interest?

• money paid to you by a bank for the money you have in a bank account
• put into a bank account
• to borrow something
  

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

• $23,285.05
• $3,285.05
• $2,385
• $32,285

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

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.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2