
Compound Interest 2-6
Authored by Deb Scott
Mathematics
9th - 12th Grade
Used 1+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after three years?
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What does the "A" part stand for in the compound interest formula?
Total
Principal
Rate
Time
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What does the "P" part stand for in the compound interest formula?
Total
Principal
Rate
Time
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What does the "r" part stand for in the compound interest formula?
Total
Principal
Rate
Time
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What does the "t" part stand for in the compound interest formula?
Total
Principal
Rate
Time
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you wanted to amount of interest an account has earned after being compounded annually. What would you have to do after you found "A" using the formula A=P(1+r)t ?
Add A (total amount) plus P (original amount)
A (total amount) is the same a interest
Look for I in the formula
Subtract P (original amount) from A (total amount)
7.
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
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