Compound Interest Quiz

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.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

You want to save $5,000 for future family vacation. If the bank pays 4.3% compounded monthly for 3 years, then how much will you need to invest to reach your vacation goal? _(3points)

• $307,042,791

• $5,000

• $3,250

• $4,395.89

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?

• $6,273.50  frustrated
• $6,314.08 bewildered
• $6,385.72         pleased
• $6,427.94           tickled pink

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

Approximately what interest rate would be needed in order to grow Christian's investment of $1400 to $2500 in 10 years if the interest was compound monthly?

• 5.96%

• 5.84%

• 5.81%

• 5.88%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

Cora invested $400 at a rate of 35% for 8 months, compounded continuously. How much is her investment worth after 8 months?

• $520.07

• $505.12

• $460.11

• $7,643.74

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

Johnny takes an undisclosed sum of money and deposits it in a bank at an interest rate of 2%. He leaves the money in the account for 6 years, compounded quarterly. If the Johnny withdraws after 6 years is $455,125, what was the sum of money he deposited?

• $403,780

• $404,138

• $406,362

• $436,870

Tran invests $15,000 in a savings account that pays 4% compounded annually. About how many years will it take for the account to double at this rate?

• 7 years

• 60 years

• 25 years

• 27 years

You want to save $5,000 for future family vacation. If you assume you can get an interest rate of 4.3% compounded monthly, then how much will you need to invest NOW to reach your vacation goal in 3 years?

• $307,042,791

• $5,000

• $3,250

• $4,395.89

Tags

CCSS.7.RP.A.3

Morales Bank offers you 3.9% interest compounded monthly. How long will it take for your money to triple if you use Morales Bank?

• 17 years and 10 months

• 28 years and 2 months

• 28 years and 3 months

• 29 years

Tags

CCSS.HSF.LE.A.4