Compounded Interest

Compounded Interest

12th Grade

15 Qs

quiz-placeholder

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Compounded Interest

Compounded Interest

Assessment

Quiz

Mathematics

12th Grade

Hard

CCSS
HSF-IF.C.8B

Standards-aligned

Created by

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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