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Compound Interest

Authored by Mrs. Cullen

Mathematics

10th - 12th Grade

CCSS covered

Used 26+ times

Compound Interest
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7 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

$1,584.62
$2,651.39
$2,706.86
$1,825.10

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Emily 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.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?

$412,749.79
$529.305.61
$689,546.99
$640,891.53

Tags

CCSS.HSF-LE.A.1C

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Courtney saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?

$2201.25
$2694.55
$2707.45
$2708.63

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years?

$33,299.42       playing dodgeball
$33,672.68   climbing trees
$34,157.04         riding unicycles
$34,710.88      flipping pancakes

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.A.1

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Willie invests $8,515 in a retirement account with a fixed annual interest rate of 5% compounded continuously. What will the account balance be after 20 years?

$22,017.32

$23,146.17

$20,021.95

$20,943.52

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