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Compound Interest

Authored by Jaquile Miller

Mathematics

9th Grade

Used 1+ times

Compound Interest
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10 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?

$6,273.50  frustrated
$6,314.08 bewildered
$6,385.72         pleased
$6,427.94           tickled pink

2.

MULTIPLE CHOICE QUESTION

2 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

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Olivia 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       LeBron James
$15,683.28            Chase Utley
$15,927.56       Serena Williams
$16,349.72            Tom Brady

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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

$412,749.79      Labor Day
$429,305.61            the 4th of July
$471,259.24  Groundhog Day
$494,546.99 Valentine’s Day

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

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 interest will she earn in 10 years?

$915.59                Rome
$933.28             Sydney
$979.81               Dublin
$1,005.09              Paris

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Monthly means how many times a year?

12
52
365

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Semi-Annually means how many times a year?

4

2

1

6

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