COmpound Interest

Bruno was given $2000 at birth . His parents invested it at a 2% interest rate compounded annually. No deposits or withdrawls were made. Which expression can be used to determine how much money Bruno had in the account when he turned 13?

• 2000(1+0.02)¹³

• 2000(1-0.02)¹³

• 2000(1+0.02)¹⁶

• 2000(1-0.02)¹⁶

Tags

CCSS.HSF.BF.A.2

The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSF-LE.A.1C

You invested $1,900 at 4% interest compounded annually for 3 years.  How much interest did you earn in 3 years?

• $2,372.40
• $237.24
• $2,137.24
• $3,197.60

Tags

CCSS.HSF.BF.A.2

Caiden earned $475 from mowing lawns last summer.He deposited this money 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.HSF.LE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.2

What does r represent?

• interest rate

• time

• principal

• total amount

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

What does t/n represent?

• interest rate

• time

• principal

• total amount

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

What does P represent?

• interest rate

• time

• principal

• total amount

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

What does A represent?

• interest rate

• time

• principal

• total amount

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.BF.A.1

Which of the following can be used for P?

• starting amount

• initial

• principal

• total amount

Tags

CCSS.HSF.LE.B.5

You borrowed $59,000 for 2 years at a simple interest of11%. What total will you pay back?

This question is asking you to use the compound interest formula.

• True

• False

Tags

CCSS.8.EE.C.7B