Compound Interest

Caiden 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 years?

• $827.52                     (Mr. Williams)       
• $831.10                 (Mrs. Hoch)
• $839.45                    (Mr. Krajunus)
• $846.80                   (Ms. Palombo)

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

• $412,749.79      Labor Day
• $429,305.61            the 4th of July
• $471,259.24  Groundhog Day
• $494,546.99 Valentine’s Day

Change 6.5% to a decimal

• .65

• 6.5

• .065

• .065%

Change 18% to a decimal

• 18

• .18

• .018

• .18%

What does P represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

What does r represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

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

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

You borrowed $1,690 for 5.5 years at an interest of 5.7%. How much is the total you pay?

• $1,690

• $2,292.45

• $1,87.55

• $3,982.45

Tags

CCSS.7.RP.A.3

Krystal has $3000 invested at a 2% interest rate. Which expression can be used to determine how much money Krystal had after 16 years?

Tags

CCSS.HSF.BF.A.2