Compound Interest Practice
Authored by Olivia McClain
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13 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?
$1,584.62
$2,651.39
$2,706.86
$1,825.10
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
5 mins • 1 pt
Jay'den 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 year?
$827.52
$831.10
$839.45
$846.80
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Change 6.75% to a decimal.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following exponential equations is the formula for compound interest?
6.
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?
7.
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, what exponential equation can be used to find how much she will pay after 8 years.
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