5.12 Compound Interest Day 2

Kathryn invests $7,612 in a retirement account with a fixed annual interest rate of 6% compounded continuously. How long will it take for the account balance to reach $17,632.19?

• 11

• 12

• 13

• 14

Micaela invests $1,045 in a savings account with a fixed annual interest rate of 9% compounded continuously. How long will it take for the account balance to reach $1,793.23?

• 5

• 6

• 7

• 8

Eduardo invests $3,071 in a savings account with a fixed annual interest rate of 7% compounded continuously. How long will it take for the account balance to reach $7,113.56?

• 12

• 13

• 14

• 15

Dan invests $6,570 in a savings account with a fixed annual interest rate compounded continuously. After 5 years, the balance reaches $8,024.62. What is the interest rate of the account?

• 2%

• 3%

• 4%

• 5%

Jenny invests $7,530 in a savings account with a fixed annual interest rate compounded continuously. After 8 years, the balance reaches $12,169.04. What is the interest rate of the account?

• 4%

• 5%

• 6%

• 7%

Natalie invests $4,050 in a retirement account with a fixed annual interest rate compounded continuously. After 16

years, the balance reaches $12,412.66. What is the interest rate of the account?

• 7%

• 8%

• 9%

• 10%