Annual Compound Interest Assignment

Annual Compound Interest Assignment

8th Grade

20 Qs

quiz-placeholder

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Annual Compound Interest Assignment

Annual Compound Interest Assignment

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Hard

CCSS
HSF-LE.A.1C, HSF.LE.A.4

Standards-aligned

Created by

Anthony Clark

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Caiden 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

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

$47,798.90

$87,798.90

$127,798

$7,798

Tags

CCSS.HSF-LE.A.1C

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually.  How much extra did you pay by taking out the loan?

$602.45

$2,292.45

$1,87.55

$3,982.45

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Jimmy invested $200 in a retirement account that had a rate of 20% that compounds annually.  If Jimmy leaves his money puts the money in when he is 24 and takes it out when he is 64, how much money will be in his account rounded to the nearest dollar?

$29395

$293954.31

$293954

Tags

CCSS.HSF-LE.A.1C

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

$2273.04

$1080.57

$1057.95

$902.18

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

$1,225,54

$2,225.54

$22,255.40

$225.54

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?

$412,749.79

$529.305.61

$689,546.99

$640,891.53

Tags

CCSS.HSF-LE.A.1C

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