Compounded Interest Word Problems

Compounded Interest Word Problems

11th Grade

20 Qs

quiz-placeholder

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Compounded Interest Word Problems

Compounded Interest Word Problems

Assessment

Quiz

Mathematics

11th Grade

Hard

CCSS
HSF-LE.A.1C, HSF.LE.A.2, HSF.BF.A.2

+2

Standards-aligned

Created by

Anthony Clark

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Ash has $8,000 in a savings account. The interest rate is 3% compounded once a year.

To the nearest cent, how much will he have in his account in 4 years?

$9,004.07

$2,2848.80

$9,011.94

$8,242.71

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Find the balance in an account that has $300 invested at 6.5% for 4 years compounded semi-annually.

$387.47

$496.50

$7,800.00

$385.94

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Derrick has $1,000 in a savings account that ears 15% interest, compounded monthly. To the nearest cent, how much will he have in 2 years?

$5,350.25

$1,322.50

$1,025.16

$1,347.35

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The population of Pallet Town increases by 15% every year. If there are currently 190,000 people living there, what will be the population in 13 years?

If necessary, round your answer to the nearest whole number.

4 people.

22,972 people.

1,169,030 people.

1,188,311 people.

Tags

CCSS.HSF-LE.A.1C

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

$1837.56

$337.56

$30000

$31500

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A sum of money doubles in 8 years when compounded annually. What is the annual interest rate?

9%

8.75%

9.25%

8.5%

Tags

CCSS.HSF.LE.A.4

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If $1000 is invested at a compound interest rate of 4% per year, compounded annually, how much will the investment be worth after 2 years?

Tags

CCSS.HSF-LE.A.1C

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