Compound Interest

Compound Interest

11th Grade

6 Qs

quiz-placeholder

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Compound Interest

Compound Interest

Assessment

Quiz

Mathematics

11th Grade

Easy

Created by

Cara Battle

Used 2+ times

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6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

$827.52

$831.10

$839.45

$846.80

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Emily 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

3.

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

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually.


Which exponential equation can be used to find how much money Karla will earn in 15 years?

Media Image
Media Image
Media Image
Media Image

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stephanie signed up for a direct deposit transfer into her savings account from her checking account. Every month $150 is withdrawn from her checking account. The interest in this account is at 2.6% compounded monthly. How much will be in the account at the end of 6.5 years?

$12,731.79

0

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bill deposited $3,500 into an account that pays 1.85% interest compounded weekly. How much will he have in his account at the end of 3 years?

$3,311.07

$3,699.71

$3,468.09

$3,791.11

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