Compound Interest
7th - 8th Grade
•13 Qs
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Compound Interest
Quiz
•
Mathematics
•
7th - 8th Grade
•
Practice Problem
•
Medium
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Used 545+ times
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13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions enable him to earn MORE interest?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Write the percent as a decimal.
4.3%
Tags
CCSS.7.NS.A.3
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
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?
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
5.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.
Tags
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.B.5
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?
$1,225,54
$2,100.34
$22,255.40
$225.54
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSA.SSE.B.4
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
7.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
the time has to be in _____________
years
months
days
seconds
Tags
CCSS.7.EE.A.2
CCSS.HSA.SSE.A.2
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