Compounded Interest

Quiz
•
Mathematics
•
12th Grade
•
Hard
Standards-aligned
Anthony Clark
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Fong wants to restore a '66 Mustang in 8 years. He puts $150 into an account every month that pays 3.5% interest, compounded monthly. How much is in the account in 8 years?
$16,590.38
$10,496.77
$76,108.90
$71,984.01
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in 4 years?
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Dash invested $10,000 at 3% interest compounded continuously. How much will he have after 8 years?
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Willie invests $8,515 in a retirement account with a fixed annual interest rate of 5% compounded continuously. What will the account balance be after 20 years?
$22,017.32
$23,146.17
$20,021.95
$20,943.52
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Jessica invests $3,948 in a savings account with a fixed annual interest rate of 9% compounded continuously. What will the account balance be after 11 years?
$8,786.44
$10,056.40
$10,624.99
$8,357.92
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Adam invests $5,208 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 8 years?
$9,876.87
$10,699.49
$9,489.59
$8,803.91
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