Compound and Continuous Interest HW

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

Tags

CCSS.HSF-LE.A.1C

Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.

• $2794.10
• $2738.11
• $2774.98
• $2807.11

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSF-LE.A.1C

Damara invests $3500 at 2% compounded continuously for 5 years. How much will she have in her account after 5 years?

• $3868.10

• $3886.10

• $3688.10

• $3286.10

Andy invests $500 into an account with 4.8% interest, compounded monthly. How much will be in the account in 10 years?

• $799.06
• $520.36
• $807.26
• $877.61

Tags

CCSS.HSF-LE.A.1C

Olivia 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

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.4.MD.A.1

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Abhasra invests $8,911 in a retirement account with a fixed annual interest rate of 7.71% compounded continuously. What will the account balance be after 20 years?

• $41,649.38

• $51,649.38

• $61,649.38

• $71,649.38