Compound Interest and Exponential Equations

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

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

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

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

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

What information needs to be provided to solve a problem using Compound Interest. Check all that apply.

• P= Principal

• R= Rate

• T= Time

• N= Terms in a year

• I= Interest Amount

Which is the formula for Compound Interest?

Use Compound Interest Formula to find the ending balance.

Your 2 year investment of $1,030 received 4% interest compounded semiannually. What is your total return?

• $84.91

• $1,114.91

• $82.40

• $1,112.40

the time has to be in _____________

• years

• months

• days

• seconds

The A means ____________ in compound interest

• annual

• amount in account

• answer

• accrued debt