Math8 Compound Interest
6th - 9th Grade
•12 Qs
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Math8 Compound Interest
Quiz
•
Mathematics
•
6th - 9th Grade
•
Medium
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12 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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?
Tags
CCSS.HSF-LE.A.1C
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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?
3.
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.
Tags
CCSS.HSF-IF.C.8B
4.
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
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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
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