Understanding Compound Interest Basics
Authored by Callie Beck
Mathematics
10th Grade
CCSS covered
Used 2+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you invest $1000 at an annual interest rate of 5% compounded annually, what will be the total amount after 3 years?
$1150.00
$1157.63
$1100.00
$1050.00
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSA.SSE.A.1
CCSS.HSF.LE.B.5
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating compound interest?
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If $5000 is invested at an annual interest rate of 4% compounded quarterly, what will be the total amount after 2 years?
$5408.16
$5200.00
$5412.16
$5300.00
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
CCSS.HSA.CED.A.1
CCSS.HSF.LE.B.5
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many times is the interest compounded annually if it is compounded monthly?
6
12
4
2
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.BF.A.1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the principal amount is $2000, the annual interest rate is 3%, and the interest is compounded semi-annually, what is the amount after 5 years?
$2318.55
$2320.00
$2315.00
$2300.00
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSA.CED.A.1
CCSS.HSA.SSE.A.1
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is true about compound interest?
Compound interest is calculated only on the initial principal.
Compound interest is calculated on the initial principal and also on the accumulated interest of previous periods.
Compound interest is always less than simple interest.
Compound interest does not depend on the frequency of compounding.
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
CCSS.HSA.CED.A.1
CCSS.HSF.LE.A.3
CCSS.HSF.BF.A.2
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If $1500 is invested at an annual interest rate of 6% compounded annually, what will be the total amount after 4 years?
$1897.46
$1800.00
$1900.00
$1850.00
Tags
CCSS.HSF.LE.A.1
CCSS.HSF.LE.A.2
CCSS.HSF.BF.A.1
CCSS.HSF.LE.A.3
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