Alg. 1 Strats Compound Interest

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount

• The interest rate

• The time

Change 6.5% to a decimal

• .65

• 6.5

• .065

• .065%

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CCSS.5.NBT.A.3

Caiden deposited $475 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

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CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

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CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually.

What is the total value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680

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CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.B.4

Monthly means how many times a year?

• 4

• 12

• 52

• 365

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CCSS.4.MD.A.1

Emily would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly.

If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94

• $15,683.28

• $15,927.56

• $16,109.05

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CCSS.HSF.LE.A.1

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

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.

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

• $1,225,54

• $2,100.34

• $22,255.40

• $225.54

Find the total amount of interest added the account to the nearest cent if the interest is compounded annually.

$2750 at 8% for 2 years

• $207.60

• $457.60

• $440.00