Day 78 Compound Interest

If $1,000 is invested at an annual interest rate of 4% compounded quarterly, what will be the balance after 1 year?

• $1,040.60

• $1,041.16

• $1,010.00

• $1,060.00

• $1000

If the interest on an investment is compounded quarterly, how many times does the interest compound in a year?

• 2

• 4

• 12

• 1

An investment of $2,000 is made at an annual interest rate of 5% compounded semi-annually. What will be the amount after 2 years?

• $2,205.00

• $2,102.50

• $2,210.25

• $2,000.00

• $2207.63

A sum of $4,500 is invested at a nominal annual interest rate of 7% compounded monthly. What will be the total amount after 6 months?

• $4,567.89

• $4,676.25

• $4,659.81

• $4,750.00

What is the future value of $10,000 invested for 3 years at an annual interest rate of 5% compounded quarterly?

• $11,576.25

• $11,500.00

• $11,614.13

• $11,000.00

• $11,607.55

• $2,343.32

• $2,350.00

• $2,323.36

• $2,400.00

A sum of $2000 is invested at an annual interest rate of 6% compounded quarterly. What will be the amount after 1 year?

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A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, what will be the total amount of money in your savings account after three years?

• $337.56
• $1837.56
• $31500
• $30000

A man invests $2,000 in an account that pays 8% interest compounded quarterly. What is the total amount he will have in his account after 10 years?