Test Review: Compounding Interest
Authored by Angela Sage
Mathematics
9th - 12th Grade
CCSS covered
Used 22+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
You invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years.
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
CCSS.HSF.LE.B.5
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The same amount of principal is invested in different accounts earning the same interest rate. Which of the following accounts would have the greatest accumulated value at the end of one year?
An account earning no interest
An account earning interest compounded monthly
An account earning interest compounded annually
An account earning interest compounded daily
Tags
CCSS.HSF-LE.A.1C
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Change 6.75% to a decimal.
Tags
CCSS.7.NS.A.2
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
CCSS.HSF.LE.B.5
5.
MULTIPLE CHOICE QUESTION
30 sec • 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
6.
MULTIPLE CHOICE QUESTION
30 sec • 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
Approximately what interest rate would be needed in order to grow an investment of $1,400 to $2,500 in 10 years if the interest was compound monthly?
Tags
CCSS.HSA.CED.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
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