Compound Interest

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.3.MD.A.1

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

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

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

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

The population of City A is 16,500 and is growing by approximately 2.5% per year. The population of City B is 25,000 and is decreasing approximately 4% per year. Choose the best answer for the equations that model these functions and the # of years it will take for their populations to be equal.

• 16,500(1.25)^x; 25,000(0.96)^x; 6 years

• 16,500(1.025)^x; 25,000(0.6)^x; 6.5 years

• 16,500(1.025)^x; 25,000(0.96)^x; 6.3 years

• 16,500(1.025)^x; 25,000(0.96)^x; 6.5 years