Compound Interest Quiz

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56

• $337.56

• $30000

• $31500

If you invest $1000 at an annual interest rate of 5% compounded annually, how much will the investment be worth after 10 years?

• $1500

• $1628.89

• $1638.62

• $1650

What is the compound interest on a principal amount of $2000 compounded quarterly for 2 years at an annual interest rate of 4%?

• $163.86

• $164.86

• $165.71

• $81.94

A sum of money doubles in 8 years when compounded annually. What is the annual interest rate?

• 9.05%

• 8.75%

• 9.25%

• 10%

If $5000 is invested at an annual interest rate of 6% compounded monthly, how much will the investment be worth after 5 years?

• $6744.25

• $6719.58

• $6700.00

• $6758.89