Compound Interest Practice

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.4.MD.A.1

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Kennedy 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 total will she earn in 10 years?

• $4915.59
• $3933.28
• $2979.81
• $4005.09

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

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

Tags

CCSS.HSF-LE.A.1C

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded monthly. What will be his balance after 15 years?

• $827.52
• $839.17
• $839.45
• $846.80

Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded quarterly for three years.

• $4422.03
• $4427.62
• $4428.90
• $4429.51

Given an investment of $1,500:
Which investment would have a larger balance after 5 years?
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily. 

• Option 1
• Option 2

Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 3 years?

• $2,273.50

• $1,514.08

• $2,040.23

• $1,911.70

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