Compound Interest Review

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          

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.A.1

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      

• $33,672.68  

• $34,157.04        

• $34,710.88    

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

Match the word to the correct value of n.

• n = 4

• monthly

• n = 1

• annually

• n = 52

• semi-annually

• n = 2

• weekly

• n = 12

• quarterly

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

If it is compounded daily, then n = (a)  

• 365
• 52
• 325
• 12
• 7
• 366

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.A.1

Find the balance in the account after the given period.

$12,000 principal earing 4.8% compounded annually after 7 years.

• $3,243.19

• $16,661.35

• $15,243.19

• $4,661.35

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

Find the balance in the account after the given period.

$5000 deposit earning 1.5% compounded quarterly after 3 years

• $5,229.70

• $7,604.38

• $7,777.27

• $5,538.86

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.B.4

Label each part of the formula

b

a

c

d

e

End Amount

Rate

Compound Period

Time

Principle

Tags

CCSS.HSF-IF.C.8B

Change 13% to a decimal.

• 1.3

• .013

• 13

• .13

Tags

CCSS.5.NBT.A.3