Compound Interest Quiz

Semi-Annually means how many times a year?

• 4

• 2

• 1

• 6

Quarterly means how many times a year?

• 4

• 2

• 1

• 6

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

In the formula what does P represent?

• Principal before Interest

• Principal after Interest

• Number of times compounded

• Interest Rate

In the formula what does r represent?

• Principal before Interest

• Interest Rate as a decimal

• Number of times compounded

• Interest Rate as a percent

In the formula what does n represent?

• Principal before Interest

• Interest Rate as a decimal

• Number of times compounded

• Interest Rate as a percent

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

Find the balance in the account after the given period.

$13,500 deposit earning 3.3% compounded monthly after 1 year

• $13,611.38

• $14,898.84

• $13,537.13

• $13, 952.30

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

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