Compound Interest

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

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

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

• $928,488.27

• $49,170.21

• $91,333.14

• $51,333.14

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

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

Tags

CCSS.HSF-LE.A.1C

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

What does P represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

What does r represent in the equation A=P(1+r)^t

• rate

• principal

• time

• amount

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

Steve deposited $5,000 in a savings account that pays 4% interest compounded annually.

Which equation could be used to find the value of the account after 3 years?

• A = 5,000(1 + 4)³

• A = 5,000(1 + 0.04)³

• A = 5,000(1 + 0.4) x 3

• A = 5,000(0.04)³