Compound Interest

Your 5 year investment of $23,780 received 5.2% interest compounded annually. What is your total return?

• $6,860.13

• $30,604.13

• $32,385

• $30,640.13

You borrowed $125,000 for 22 years at 3.8% which was compounded annually. What total will you pay back?

• $15,856.48

• $28,395.69

• $283956.48

• $73,793.90

What does the A stand for in this formula?

• Interest paid

• Initial amount

• principle amount + interest combined

• Time

• The number of times compounded per year

The Arnold's took out a loan for $44,800 to purchase a boat. At 7.3% interest rate compounded annually, how much will they have paid after 12 years?

• $10,434.58

• $104,345.73

• $59,545.73

• $140,891.53

You borrowed $63,500 for 8 years at 9.6% which was compounded annually. What was the interest paid back on the money borrowed?

• $13,220.81

• $1,322.08

• $68,708.13

• $73,793.90

Your 6 year investment of $40,050 at 14% interest compounded annually is worth how much now?

• $47,858.65

• $87,980.90

• $87,908.65

• $47,798.35

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, what will be the total amount of money in your savings account after three years?

• $337.56
• $1837.56
• $31500
• $30000

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56
• $337.56
• $30000
• $31500

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

What is the correct definition of interest?

• the extra amount of money paid out or given to you from a loan or savings.

• money that was invested

• money that was used to pay for something