Compound Interest Quiz

Solve the formula for y. What is the 1st step?

• Subtract B from each side.

• Divide each side by Ax.

• Divide each side by B.

• Subtract Ax from each side.

Find the product: (x + 5)²

Hint: try (x + 5)(x + 5)

• x² + 25

• x² + 10x + 25

• x² + 10 x + 10

• x² + 10

Find the Product:

(3p − 3)(p − 1)

• 3p² + 6p + 3

• 3p² − 6p + 3

• 3p² − 6p − 3

• 3p² + 6p − 3

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

• 4

• 16

• 60

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90
• $87,798.90
• $127,798
• $7,798

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10