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simple and compound interest

Authored by Erika Ware

Mathematics

9th - 12th Grade

CCSS covered

Used 1+ times

simple and compound interest
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17 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

$23,285.05
$3,285.05
$2,385
$32,285

Tags

CCSS.HSF-LE.A.1C

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

$13,693.90
$1,363.90
$72,693.90
$73,793.90

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Semi-Annually means how many times a year?

2
1
6

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Change 6.75% to a decimal.

67.5
.675
675
.0675

5.

MULTIPLE CHOICE QUESTION

15 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
$15,683.28
$15,927.56
$16,109.05

6.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

$12712.31
$12,749.30
$12,657.59
$12550.84

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the n stand for in this formula?

Initial amount

Final amount

Rate

Time

The number of times compounded per year

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