Compounding Interest Practice
Authored by Anthony Clark
Mathematics
12th Grade
CCSS covered
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15 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is "n" if the interest is compounded quarterly?
1
12
2
4
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Cora invested $400 at a rate of 35% for 8 months, compounded continuously. How much is her investment worth after 8 months?
$520.07
$505.12
$460.11
$7,643.74
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of these circumstances would require the formula A=Pert ?
Daily
Monthly
Quarterly
Continuously
4.
DRAG AND DROP QUESTION
1 min • 4 pts
total amount
principal
interest rate (decimal)
time (years)
initial amount
rate of interest
number of times compounded in a month
time (months)
interest rate (percentage)
number of times compounded in a year
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded quarterly for three years.
$4422.03
$4427.62
$4428.90
$4429.51
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.
$4422.03
$4427.62
$4428.90
$4429.51
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