10.3 compound interest TEST
Quiz
•
Mathematics
•
8th - 11th Grade
•
Easy
Standards-aligned
Angela Beaty
Used 6+ times
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
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?
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?
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