10.3 compound interest TEST

10.3 compound interest TEST

8th - 11th Grade

10 Qs

quiz-placeholder

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10.3 compound interest TEST

10.3 compound interest TEST

Assessment

Quiz

Mathematics

8th - 11th Grade

Easy

CCSS
4.MD.A.1, HSF-LE.A.1C

Standards-aligned

Created by

Angela Beaty

Used 6+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 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

2.

MULTIPLE CHOICE QUESTION

30 sec • 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      

$16,349.72          

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

$565.70

$262609.38

$65.70

$630.20

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monthly means how many times a year?

12
52
365

Tags

CCSS.4.MD.A.1

5.

MULTIPLE CHOICE QUESTION

30 sec • 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  

$6,314.08

$6,385.72        

$6,427.94          

6.

MULTIPLE CHOICE QUESTION

30 sec • 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       l

$33,672.68  

$34,157.04        

$34,710.88    

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Semi-Annually means how many times a year?

2
1
6

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