Algebra 3/Trig Lesson 5.1 Homework: Compound Interest

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

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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

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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

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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?  

• $307,042,791
• $5,000
• $3,250
• $4,395.89

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P = 26,000 | Rate = 2.4% | 4 years | Compounded Continuously | Amount owed???

• $2,496
• $28,496
• $3,406,924
• $28,619.74

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Rachel opened a money market account that has a 3.75% annual interest rate, compounded annually. The initial deposit is $2,125 . How much will be in the account after 12 years?

• $3305.34

• $3405.34

• $3315.34

• $3345.34

Bob and Sue want to save a total of $500,000 for retirement. How much should they deposit monthly into an account that pays 4.5% interest, compounded monthly, to meet their goal in 25 years?

• $904.16
• $1,015.22
• $9,014.00
• $1,500.22

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

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Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

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Fong wants to restore a '66 Mustang in 8 years. He puts $150 into an account every month that pays 3.5% interest, compounded monthly. How much is in the account in 8 years?

• $16,590.38
• $10,496.77
• $76,108.90
• $71,984.01

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