Chapter 11 Test

Tags

CCSS.HSA.APR.A.1

Tags

CCSS.HSA.APR.A.1

Tags

CCSS.8.EE.A.1

Tags

CCSS.HSN.RN.A.2

Tags

CCSS.HSN.RN.A.2

Use the compound interest equation to determine how much money an account would have after 10 years if an initial deposit of $3,000 was made and the annual interest rate was 5% and compounded biannually?

• $5125.20

• $4915.85

• $3500.35

• $4512.25

Use the compound interest equation to determine how much money an account would have after 20 years if an initial deposit of $10,000 was made and the annual interest rate was 6.5% and compounded monthly?

• $45,394.43

• $35,010.42

• $36,564.47

• $16,500.65

Use the continuously compounded interest equation to determine how much money an account would have after 5 years if an initial deposit of $2,500 was made and the annual interest rate was 4% and compounded continuously?

• $3,053.51

• $2,903.21

• $3,419.67

• $3212.52

Use the continuously compounded interest equation to determine how much money an account would have after 20 years if an initial deposit of $7,500 was made and the annual interest rate was 7.1% and compounded continuously?

• $12,482.18

• $49,261.08

• $27,519.07

• $31,028.40