Mastering Compound Interest & Growth: 8th Grade Challenges

If you invest $1,000 in a savings account with an annual interest rate of 5%, how much money will you have after 3 years if the interest is compounded annually?

• 1157.63

• 1200.00

• 1050.75

• 1100.50

A car dealership offers a financing plan where the price of a car increases by 10% each year. If the car costs $20,000 now, what will be its price in 4 years?

• $29,282.00

• $27,500.00

• $25,000.00

• $32,000.00

You deposit $500 into an account that earns 6% interest compounded quarterly. How much will you have in the account after 5 years?

• 673.43

• 600.00

• 500.00

• 750.00

A population of rabbits doubles every year. If there are currently 50 rabbits, how many will there be in 3 years?

• 200

• 100

• 400

• 800

You want to save for a vacation and plan to invest $2,000 in an account that earns 4% interest compounded monthly. How much will you have after 2 years?

• 2005.75

• 2100.00

• 2200.50

• 2166.56

A bank offers a savings account with a 3% annual interest rate compounded semi-annually. If you deposit $1,500, how much will you have after 5 years?

• $1,500.00

• $1,800.00

• $1,600.50

• $1,741.05

If you invest $800 in a fund that grows at a rate of 7% per year, compounded annually, how much will your investment be worth after 10 years?

• 1200.00

• 2000.00

• 1573.72

• 1000.00

A certain investment grows by 15% each year. If you start with $1,200, how much will you have after 6 years?

• 3000.00

• 1800.00

• 2500.00

• 2775.60

You have $2,500 to invest in a retirement account that earns 5% interest compounded annually. How much will you have in the account after 20 years?

• 8000.75

• 7500.50

• 5000.00

• 6633.25

A smartphone's value depreciates by 20% each year. If it is currently worth $600, what will its value be in 3 years?

• $240.00

• $500.00

• $307.20

• $480.00