Exponential-Compounding Questions

Maria invested $95,000 in an account paying an interest rate of 2.7% compounded continuously. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $145,500?

• 15.8 years

• 18.3 years

• 20.5 years

• 22.7 years

Tags

CCSS.HSF.LE.A.4

Alphie invested $6,400 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $14,490?

• 10.5 years

• 12.3 years

• 13.5 years

• 18.2 years

Tags

CCSS.HSF.LE.A.4

Jo invested $84,000 in an account paying an interest rate of 3.5% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 10 years?

• $118,000

• $120,000

• $119,020

• $122,000

Tags

CCSS.HSF-LE.A.1C

Billy invested $580 in an account paying an interest rate of 4.4% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 17 years?

• $1,200

• $1,300

• $1,400

• $1,500

Tags

CCSS.HSF-LE.A.1C

Ella is going to invest in an account paying an interest rate of 1.7% compounded monthly. How much would Ella need to invest, to the nearest ten dollars, for the value of the account to reach $590 in 19 years?

• $300

• $350

• $430

• $450

Edwin is going to invest in an account paying an interest rate of 4% compounded continuously. How much would Edwin need to invest, to the nearest dollar, for the value of the account to reach $17,300 in 15 years?

• $10,000

• $11,000

• $9,494

• $13,330

Anna is going to invest $2,900 and leave it in an account for 7 years. Assuming the interest is compounded continuously, what interest rate, to the nearest hundredth of a percent, would be required in order for Anna to end up with $3,300?

• 1.85%

• 2.00%

• 2.15%

• 2.30%

Janna is going to invest $37,000 and leave it in an account for 12 years. Assuming the interest is compounded monthly, what interest rate, to the nearest hundredth of a percent, would be required in order for Janna to end up with $82,000?

• 5.67%

• 6.12%

• 6.65%

• 8.34%

Diane invested $590 in an account paying an interest rate of 3 1/4% compounded continuously. Caroline invested $590 in an account paying an interest rate of 3 1/2% compounded annually. After 20 years, how much more money would Caroline have in her account than Diane to the nearest dollar?

• $44

• $65

• $1170

• $1130

Cecille invested $180 in an account paying an interest rate of 3.2% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 17 years?

• $320.45

• $312.67

• $310.12

• $305.12