Compound Interest
Authored by Heather Smetak
Mathematics
11th - 12th Grade
CCSS covered
Used 180+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
Tags
CCSS.HSA.CED.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.2
CCSS.HSA.SSE.B.4
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Monthly means how many times a year?
Tags
CCSS.3.MD.A.1
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. How long has the money been in the account?
7 years
6 years
5 years
4 years
Tags
CCSS.HSF.LE.A.4
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does the n stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
Tags
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.B.5
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does the r stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
Tags
CCSS.HSA.SSE.A.1
CCSS.HSA.CED.A.4
CCSS.HSF.LE.B.5
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does the P stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
Tags
CCSS.HSA.SSE.A.1
CCSS.HSA.CED.A.4
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
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.HSF.LE.A.4
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