Compound Interest Practice #4

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

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

An investment of $9,875 earns 4.8% interest compounded monthly over 12 years. Approximately how much INTEREST is earned on the investment?

• $7,671.55

• $10,359.57

• $17,546.55

• $484.57

Tags

CCSS.HSF-LE.A.1C

Will deposits $1650 for three years at 3% interest, compounded daily. What is his ending balance?

• $1,700.25

• $4,056.85

• $2,103.87

• $1,805.38

Jamere deposits $2350 in an account that earns interest at a rate of 3.1%, compounded monthly. What is his ending balance after five years?

• $2743.98

• $2,743.45

• $2,362.01

• $10,856.16

Gabby deposits $800 at 3.87% interest, compounded quarterly. What is her ending balance after one year?

• $1,157.50

• $831.41

• $807.74

• $931.22

Tags

CCSS.HSF-LE.A.1C

Semi-Annually means how many times a year?

• 4

• 2

• 1

• 6

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

Zach's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 18 years?

• $6,273.50

• $6,314.08

• $6,385.72

• $6,427.94

You want to save $5,000 for future family vacation. If you assume you can get an interest rate of 4.3% compounded monthly, then how much will you need to invest NOW to reach your vacation goal in 3 years?

• $307,042,791

• $5,000

• $3,250

• $4,395.89