Compounded Interest

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

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

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

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

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.B.4

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.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

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CCSS.3.MD.A.1

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you earn money more often
• Quarterly - so you earn money less often
• who knows
• I need to consult my financial analyst

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much interest will she earn in 10 years?

• $915.59

• $933.28

• $979.81

• $1,005.09

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

Gary deposited $500 in an accoutn that earns 3% interest compounded annually. How much interest will the account earn after 6 years? 

• $90.00
• $100.00
• $97.03
• $109.20

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CCSS.7.RP.A.3

Morales Bank offers you 3.9% interest compounded monthly. How long will it take for your money to triple if you use Morales Bank?

• 17 years and 10 months

• 28 years and 2 months

• 28 years and 3 months

• 29 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.BF.B.5

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.4