Compound Interest Formulas

Your 5 year investment of $17,500 received 6.7% interest compounded annually. What is your total return?

• $22,205.05

• $6,702.50

• $2,385

• $24,202.50

Jay'den earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52

• $831.10

• $839.45

• $846.80

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% for 2 years

• $2200.00

• $3207.60

• $8910.00

• $2750

A necklace is appraised at $1750. If the value of the necklace increased at a quarterly rate of 3%, how much was it worth 5 years ago?

• $1561.78

• $1576.58

• $1587.95

• $1507.08

You want to save $5,000 for future family vacation.  If the bank pays 4.3% compounded monthly for 3 years, then how much will you need to invest to reach your vacation goal?  

• $307,042,791

• $5,000

• $3,250

• $4,395.89

Matt wants to have a total of $3000 at the end of 5 years. if invested at 4.8% interest compounded semiannually how much should he put in the account in order to have $3000 at the end of the 5 years?

• $2473.04

• $2366.58

• $2067.95

• $1902.18

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05

• $3,285.05

• $2,385

• $32,285

Approximately what interest rate would be needed in order to grow an investment of $1,400 to $2,500 in 10 years if the interest was compound monthly?

• 5.96%

• 5.84%

• 5.81%

• 5.88%

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?

• $6,273.50

• $6,314.08

• $6,385.72

• $6,427.94

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually.

What is the total value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680