Compound Interest Balance

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05

• $3,285.05

• $2,385

• $32,285

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90

• $1,363.90

• $72,693.90

• $73,793.90

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90

• $87,798.90

• $127,798

• $7,798

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

Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. How long has the money been in the account?

• 7 years

• 6 years

• 5 years

• 4 years

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³

• 2000(1-0.02)¹³

• 2000(1+0.02)¹⁶

• 2000(1-0.02)¹⁶

Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 3 years?

• $2,273.50

• $1,514.08

• $2,040.23

• $1,911.70

Olivia 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

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