Grade 11: Compound Interest

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Semi-Annually means how many times a year?

• 4

• 2

• 1

• 6

What does the rate have to be in?

• scientific notation

• negative integers

• positive integers

• decimal

The compound interest formula is:

A = P(1 + r)^t

What does the A represent?

• The amount of interest earned.

• The amount of time that has passed.

• The total amount of money after a certain amount of time.

• The amount required to invest.

Caiden earned $475 from mowing lawns last summer.He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52

• $831.10

• $839.45

• $846.80

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10