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Mastering Compound Interest & Growth: 8th Grade Challenges

Authored by Anthony Clark

English, Mathematics

8th Grade

CCSS covered

Mastering Compound Interest & Growth: 8th Grade Challenges
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Tags

CCSS.HSF.BF.A.2

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Tags

CCSS.HSF.BF.A.2

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