Y10 Compound Interest

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

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

Hei-Hei has $1500 in a retirement account earning 5% interest compounded annually. After 5 years how much does Hei-Hei have in the account?

• $1750

• $2010.14

• $2500

• $1914.42

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

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

John just opened a savings account and wants to maximize the amount of interest he earns. Which of the following actions enable him to earn MORE interest?

• selecting an account with a higher interest rate
• leaving his money in the account for a long period of time
• transferring money into his checking account each month
• higher interest rate AND leaving money in for a longer time