Enhanced Algebra - Compound Interest Practice
Authored by Quadrika Sanders
Mathematics
9th Grade
CCSS covered
Used 3+ times
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10 questions
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1.
OPEN ENDED QUESTION
5 mins • 1 pt
Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?
Evaluate responses using AI:
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Answer explanation
$6,520.02
2.
OPEN ENDED QUESTION
5 mins • 1 pt
Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year. What will the account balance be after 12 years?
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Answer explanation
$21,360.01
3.
OPEN ENDED QUESTION
5 mins • 1 pt
Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously. What will the account balance be after 15 years?
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Answer explanation
$9,681.72
4.
OPEN ENDED QUESTION
5 mins • 1 pt
Maria invests $6,154 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 10 years?
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Answer explanation
$13,286.02
5.
OPEN ENDED QUESTION
5 mins • 1 pt
Ryan invests a sum of money in a savings account with a fixed annual interest rate of 4.31% compounded 12 times per year. After 10 years, the balance reaches $12,855.94. What was the amount of the initial investment?
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Answer explanation
$8,361.00
6.
OPEN ENDED QUESTION
5 mins • 1 pt
Ndiba invests a sum of money in a savings account with a fixed annual interest rate of 4.61% compounded 3 times per year. After 6 years, the balance reaches $5,485.85. What was the amount of the initial investment?
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Answer explanation
$4,169.00
7.
OPEN ENDED QUESTION
5 mins • 1 pt
John invests a sum of money in a retirement account with a fixed annual interest rate of 2.63% compounded continuously. After 15 years, the balance reaches $1,912.41. What was the amount of the initial investment?
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Answer explanation
$1,289.00
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