Quiz: Precalculus Review (Compound Interest Formula)

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.7.RP.A.3

CCSS.7.NS.A.2

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.3.MD.A.1

Justin's $440 gets 5.8% interest compounded annually for 8 years. What will your $440 be worth in 8 years?

• $250.78

• $690.78

• $1,130

• $940.78

Indonesia 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

The Austin'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

Maya 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 Rome

• $933.28 Sydney

• $979.81 Dublin

• $1,005.09 Paris

Kalifa invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually,how much interest will Riley earn in 15 years?

• $1,584.62 the train station

• $1,651.39 the movie theater

• $1,706.86 the art museum

• $1,893.45 the bakery

Which formula is shown?

• Compounded n times per year

• Compounded continously

What does the A stand for in this formula?

• Initial Amount

• Final Amount

• Rate

• Time

• The number of times compounded per year