Compound Interest

Change 6.5% to a decimal

• .65

• 6.5

• .065

• .065%

Tags

CCSS.5.NBT.A.3

Change 18% to a decimal

• 18

• .18

• .018

• .18%

Tags

CCSS.5.NBT.A.3

What does P represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

Tags

CCSS.HSA.SSE.A.1

What does r represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

Tags

CCSS.HSA.SSE.A.1

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52

• $831.10

• $839.45

• $846.80

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

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

You borrowed $1,690 for 5.5 years at an interest of 5.7%. How much is the total you pay?

• $1,690

• $2,292.45

• $1,87.55

• $3,982.45

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Krystal has $3000 invested at a 2% interest rate. Which expression can be used to determine how much money Krystal had after 16 years?

• $A=3000\left(1+.02\right)^{16}$

• $A=3000\left(1-.02\right)^{16}$

• $A=16\left(1+.2\right)^{3000}$

• $A=3000\left(.2\right)^{16}$

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually.

What is the total value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680

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

Steve deposited $5,000 in a savings account that pays 4% interest compounded annually.

Which equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³

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