Compound Interest and Exponential Functions

What principal will amount to $4500 if invested at 4% interest compounded quarterly for 5 years?

• $3463.04
• $3366.58
• $3687.95
• $3903.18

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04
• $1080.57
• $1057.95
• $902.18

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the future account balance.

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

Solve for x:
2^{3x + 1} = 32

• 0
• -1
• 5/3
• 4/3

Which equation represents an investment of $400 for 5 years when the interest rate is 4.29% each year?

• y=400(1 - 0.0429)⁵

• y=400(1+.0429)⁵

• y=400(1+ 4.29)⁵

• y=400e^0.049*5

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

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59
• $3933.28
• $2979.81
• $4005.09

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

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

Change 6.75% to a decimal.

• 6.75

• 0.675

• 0.00675

• 0.0675

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6