Simple, Compound, and Continuous Compound Interest
Quiz
•
Mathematics
•
12th Grade
•
Medium
+7
Standards-aligned
Laura Causey
Used 11+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
3 mins • 5 pts
What is the formula for simple interest?
Tags
CCSS.8.EE.C.7B
2.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Find the balance in the account after the given period.
$12,000 principal earing 4.8% compounded annually after 7 years.
$3,243.19
$16,661.35
$15,243.19
$4,661.35
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
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
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.LE.B.5
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?
Tags
CCSS.HSA.CED.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.LE.B.5
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Courtney saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?
Tags
CCSS.HSA.CED.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.
Tags
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
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