Continuous 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 continuously. What will be his balance after 15 years?

• $141,962.02            

• $831.10                

• $839.93

• $846.80            

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much INTEREST will she earn in 10 years?

• $915.59              

• $933.28            

• $979.81              

• $1,005.09              

P=12,000, r=11.9%

Find about how long it would take to triple to money. (Round to the nearest WHOLE year)

• 9.3 years

• 9 years

• 12 years

• 7 years

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CCSS.HSF.LE.A.4

A college receives a donation of $955,000 that earns 5.33% interest compounded daily. How much INTEREST would the college earn in one year? (Round to the nearest penny)

(a)  

Dash puts $3,563 into an account using compounded continuously. If he keeps the money in the account for 5 years and now has a total of $10,689. What is the INTEREST RATE?

• 22%

• 5%

• 0.22%

• 16.7%

The population of Eden is growing continuously at a rate of 1.9%. If the current population is 15,230, about how many YEARS to reach 20,000? (Round to the nearest WHOLE year)

• 31

• 2

• 15

• 68

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CCSS.HSF.LE.A.4

George Springer received $100,000 for an investment that accrued 4.2% interest continuously for 6 years.  About how much money did Springer ORIGINALLY invest? (Round to the nearest penny)

(a)