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Compound Interest and Solving Exponents

Authored by Anthony Clark

Mathematics

10th Grade

CCSS covered

Compound Interest and Solving Exponents
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9 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Steve deposited $5,000 in a savings account that pays 4% interest compounded annually.


Which equation could be used to find the value of the account after 3 years?

A = 5,000(1 + 4)3

A = 5,000(1 + 0.04)3

A = 5,000(1 + 0.4) x 3

A = 5,000(0.04)3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does P represent in the equation A=P(1+r)^t

rate

principal

time

amount

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

$827.52

$831.10

$839.45

$846.80

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

$13,693.90

$1,363.90

$72,693.90

$73,793.90

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Tags

CCSS.HSF-LE.A.1C

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

John invested $6,000 into an account that pays 8% annual compound interest. What will the balance of his account be after 6 years?

9,521.25

10,851.26

3,521.25

2,986.24

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Samantha made an initial investment of $16,500 into her retirement account. It will pay 12.5% interest compounded annually. What will her balance be after twenty years?

173,994.05

186,789.26

157,494.05

152,383.26

Tags

CCSS.HSF-LE.A.1C

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