Compounded Interest Word Problems

Quiz
•
Mathematics
•
11th Grade
•
Hard
+2
Standards-aligned
Anthony Clark
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
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
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
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
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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