
compound interest
Quiz
•
Mathematics
•
8th Grade
•
Easy
Used 2+ times
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17 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Heather
invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest
compounded annually. What is the value of the CD at the end
of the 4 years?
$9,394.92
$9,312.00
$1394.00
$1312.00
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded annually, how much total will she earn in 10 years?
$4915.59
$3992.78
$2979.81
$4005.09
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?
$1,225,54
$2,100.34
$22,255.40
$225.54
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
interest is _________
extra money paid for borrowing
interesting
Flocabulary songs
time times rate
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Write the percent as a decimal.
4.3%
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