Math8 Compound Interest

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

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSF-LE.A.1C

Jay'den 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?

• $827.52
• $831.10
• $839.45
• $846.80

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.

Tags

CCSS.HSF-IF.C.8B

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

Find the total amount of interest added the account to the nearest cent if the interest is compounded annually.

$2750 at 8% for 2 years

• $207.60

• $457.60

• $440.00

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

• $23,285.05

• $3,285.05

• $2,385

• $32,285

Tags

CCSS.HSF-LE.A.1C

Your $440 gets 5.8% interest compounded annually for 8 years. What will your $440 be worth in 8 years?

• $250.78

• $690.78

• $1,130

• $940.78

Tags

CCSS.HSF-LE.A.1C

You invested $1,900 at 4% interest compounded annually for 3 years. How much interest did you earn in 3 years?

• $2,372.40

• $237.24

• $2,137.24

• $3,197.60

Tags

CCSS.HSF.BF.A.2

1. Suppose you deposit $250 in a new savings account paying an annual yield of 3% compound interest. If the account is left alone, how much money will be in the account at the end of 5 years?

• $289.82

• $250.00

• $275.00

• $287.50

How do you find the interest earned in a compound interest situation?

• The formula gives you the interest.

  (A = Interest)

• You add the principal to the value from the formula.

  (A + P)

• You subtract the principal off of the value from the formula.

  (A - P)

• You multiply the principal with the value from the formula.

  (A*P)