Compound Interest

Your 3 year investment of $20,000 received 5.2% interest compounded annually. What will your total balance be at the end?

• $23,285.05

• $3,285.05

• $2,385

• $32,285

Tags

CCSS.HSF-LE.A.1C

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much will they have paid over the course of 30 years?

• $494,546.99

• $529.305.61

• $689,546.99

• $640,891.53

Jay'den earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually.

How much balance will he end up earning over the course of 15 years?

Don't forget to round your answer to 2 decimal places.

Gabby deposits $800 at 3.87% interest, compounded annually. What is her ending balance after year 3?

• $1,157.50

• $896.52

• $807.74

• $931.22

Tags

CCSS.HSF.BF.A.2

Emma deposits $1200 into an account that pays 3% interest, compounded annually. What is her ending balance after one year?

• $1,613.87

• $1,709.91

• $1,236.00

• $1,203.00

Tags

CCSS.HSF.BF.A.2

Jamere deposits $2350 in an account that earns interest at a rate of 3.1%, compounded annually. What is his ending balance after five years?

• $2743.98

• $2,737.54

• $2,362.01

• $10,856.16

Tags

CCSS.HSF.BF.A.2

Juan deposits $2,500 into an account that pays 3% interest, compounded annually. What is her ending balance after the year 10?

• $1,613.87

• $2,624.91

• $3,359.79

• $1,203.00

Tags

CCSS.HSF-LE.A.1C

What does the "r" in the interest formula stand for?

• Principal
• Interest
• rate
• time

What does the "p" in the interest formula stand for?

• Principal
• Interest
• rate
• time

Tags

CCSS.8.EE.C.7B

Paul deposits $4000 in a bank which pays a compound interest rate of 5% per year. How much will he have in 7 years.

• $4866.61

• $5628.40

• $6077.53

• $6326.60

Tags

CCSS.HSF-LE.A.1C