Annual Compound Interest Assignment
Authored by Anthony Clark
Mathematics
8th Grade
CCSS covered
Used 1+ times
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10 questions
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1.
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
2.
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
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Find the total amount in the account to the nearest cent if the interest is compounded annually.
$2750 at 8% for 2 years
$220
$440
$660
Tags
CCSS.HSF-LE.A.1C
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?
$1,584.62
$2,651.39
$2,706.86
$1,825.10
Tags
CCSS.HSF-LE.A.1C
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following exponential equations is the formula for compound interest?
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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. Jay'den wants to know his balance after 15 years?
What does $475 represent?
Principal or initial value, P
Rate of interest, r
Number of times interest is compounded, n
Time, t
Tags
CCSS.HSF-LE.A.1C
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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. Jay'den wants to know his balance after 15 years?
What does 15 represent?
Principal or initial value, P
Rate of interest, r
Number of times interest is compounded, n
Time, t
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