Compound Interest Practice (7.2-3)

How much would Zion earn on a deposit of $10,000 with an interest rate at 5.12% compounded daily after 1 year? (NOT THE TOTAL AMOUNT ACCUMULATED)

• $512.00

• $525.30

• $10,523.30

• $10,512.00

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?

Heather

invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest

compounded annually. What is the value of the CD at the end

of the 4 years?

• $9,394.92

• $9,312.00

• $1394.00

• $1312.00

Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $4005.09

Cora invested $400 at a rate of 3.5% for 8 years, compounded continuously. How much is her investment worth after 8 years?

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you earn money more often
• Quarterly - so you earn money less often
• who knows
• I need to consult my financial analyst

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

Hannah invested $4000.  How much money will she have in 15 years if the interest rate of 6% is being compounded continuously? 

• 9839.42
• 32412.71
• 9838.41
• 32412.72

What is the domain of the given function?