2.7 & 2.8 Present and Future Value of Investments

Hannah and Alex are 30 years old and want to retire at 65. They deposit $4,000 each year into an account that pays 3.4% interest, compounded annually. What is the account balance when Hannah and Alex retire?

• $481,876.97

• $360,729.25

• $261,493

• $405,671.89

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CCSS.HSF.BF.A.2

When Robert turned 15, his grandparents put $10,000 into an account that yielded 1.4% interest, compounded quarterly. When Derrick turns 18, his grandparents will give him the money to use toward his college education. How much did he receive on his 18th birthday?

• $10,428.18

• $418

• $11,841.17

• $10,578.28

Jessica and Michael open an online savings account that has 3.6% annual interest rate, compounded monthly. If they deposit $1,200 every month, how much will be in the account after 10 years?

• 179,879.20

• $180,950.70

• $173,022.87

• $172,035.65

Tags

CCSS.HSF.BF.A.2

Ian wants to restore his '66 Mustang in 4 years. He puts $200 into an account every month that pays 1.05% interest, compounded monthly. How much will be in the account after 4 years?

• $9,800.07

• $1,239.80

• $3700.00

• $10,021.80

If Cody deposits $1,500 at 4.9% interest, compounded continuously, what would his ending balance be to the nearest cent after 5 years?

• $987.29

• $1,152.97

• $1,378.98

• $1,916.43

If you deposit $9,000 at 4.75% interest, compounded continuously, what would your ending balance be to the nearest cent after 3 years?

• 103,78.76

• 10,378.38

• 11,789.65

• 14,908.22

Find the INTEREST EARNED on $50,000 deposited for 6 years at 4 1/8% interest, compounded continuously

• $64,040.97

• $12,769.07

• $14,040.97

• $14,020.72

Harrison opens an account at a local bank by depositing $100. The account pays 2.4% interest, compounded weekly. He deposits $100 every week for 3 years. How much is in the account after 3 years?

• $14,540.82

• $16,171.46

• $15,525,75

• $3,674.83

Tripp puts $600.00 into an account every quarter. The account earns 1.5% interest, compounded quarterly. How much will be in the account after 5 years?

• $704.09

• $14,740.52

• $7370.26

• $12,437.27

Jackson wants to go to Costa Rica in 10 years. He thinks the trip will cost $10,000 and he plans to invest in an account with a guaranteed interest rate of 0.95% compounded quarterly. How much would he need to invest today to have $10,000 in 10 years?

• $6,980.33

• $8,497.99

• $9,094.75

• $9,187.98