Compound Interest & Depreciation Quiz

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                     (Mr. Williams)       
• $831.10                 (Mrs. Hoch)
• $839.45                    (Mr. Krajunus)
• $846.80                   (Ms. Palombo)

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

• $412,749.79      Labor Day
• $429,305.61            the 4th of July
• $471,259.24  Groundhog Day
• $494,546.99 Valentine’s Day

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

Find the balance in the account after the given period.

$3400 principal earning 3.6% compounded annually after 2 years

• $3,420.43

• $3,649.21

• $3,675.39

• $6,288.64

Find the INTEREST for a six-year CD for $5000 at an interest rate of 4%, compounded annually.

• $1,326.60

• $6,326.60

• $5,100.84

• $100.84

What is the multiplier for a 15% increase

• 0.15

• 1.15

• 0.95

• 0.85

What is the multiplier for a 20% decrease

• 0.80

• 1.20

• 0.20

• 1.80

What is the multiplier for a 10% decrease

• 0.90

• 1.10

• 0.10

• 1.90

What is the multiplier for a 5% increase

• 1.05

• 0.95

• 1.50

• 0.50

A bank pay 6% compound interest per annum (per year).

An initial payment of £2000 is made.

How much money will be in the account in 3 years time?

• £2,000

• £2,360

• £2,382.03

• £2,421