Compound Interest

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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You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

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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

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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                     (Mr. Williams)       
• $831.10                 (Mrs. Hoch)
• $839.45                    (Mr. Krajunus)
• $846.80                   (Ms. Palombo)

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Jorge earns 5.6% compound interest on his savings account. If he placed $13,000 in the account for 3 years, how much interest will Jorge earn?

• $2,308.59

• $15,308.59

• $36,353.41

• $7,491.41

Allison took out a loan for $31,980. The bank charges her 7.5% compound interest. After 7 years, how much interest will Allison have paid?

• $53,056.39

• $28,704.58

• $26,337.91

• $21,076.39

Roosevelt borrowed $245,000 from the bank to purchase a new home. The bank charges 6.25% compound interest. At the end of 30 years, how much will Roosevelt have paid for the house?

• $1,020,199.24

• $1,510,199.24

• $1,265,199.24

• $872,345.24

Sandra placed $27,000 into a savings account earning 2.8% compound interest. After 8 years, how much interest will Sandra have earned?

• $33,675.08

• $8,193.08

• $6,675.08

• $11,343.08