Compound Interest Calculation

2. 4. Find the compound interest on $2000 at an interest rate of 5% per annum compounded annually for 3 years. [Yellow]

Calculate the compound interest on $7000 at 8% per annum for 2 years compounded annually.

• $1164.80

• $900.30

• $800.20

• $1000.50

Calculate the compound interest on $5000 at an interest rate of 5% per annum for 3 years.

• $750.00

• $788.13

• $825.50

• $900.25

If you invest $1000 at an interest rate of 8% compounded annually, what will be the total amount after 5 years?

• $1200.50

• $1469.33

• $1350.25

• $1550.75

Andy's grandparents opened an account with $12,000 earning 6% interest compounded monthly. How much will the account be worth 20 years later?

Round to the nearest cent(2 decimal places)

$ ___________

Mathematical Equivalence

ON

If you invest $300 at 6% compounded monthly, how much money do you have after 4 years?

• $381.14

• $381.15

• $1274.01

• $381.37

• $105,654
• $133,105
• $164,133
• $112,822

If I borrow $500 from a payday lender, and the interest is compounded monthly at an annual rate of 24%, how much money would I owe after one year? (Please use reasoning to eliminate impossible and unlikely answers)

• 12%

• $520.00

• $634.12

• 48%

If you invest $250 into a savings account your freshman year of highschool, with an annual interest rate of 6% compounded continuously, how much will be in the account when you graduate (exactly 4 years later)? Round to the nearest cent.

Mathematical Equivalence

ON

$12,000 principal earing 4.8% interest compounded monthly after 7 years. Round your answer to the nearest cent.

Mathematical Equivalence

ON