Compound Interest Investments

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59
• $3933.28
• $2979.81
• $4005.09

Jacob earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded monthly. What will be his balance after 5 year?

• $565.25

• $574.22

• $572.37

• $846.80

Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.

• $2794.10
• $2738.11
• $2774.98
• $2807.11

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

Samantha saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?

• $2201.25

• $2694.55

• $2707.45

• $2708.63

Millie invested money in an account 5 years ago at an interest rate of 2.5% p.a. compounded fortnightly. If she now has $9064.64 in the account, how much did she originally invest?

• $9500

• 7490.35

• $12,000

• $8000

John is saving for a boat. If he invested money in an account 10 years ago at a rate of 4% p.a. compounded monthly, and now has $74541.63, how much did he originally invest?

• $37,000

• $50,000

• $48,200

• $100,000

Joel invests $150,000 in an investment account, with interest compounded weekly. If he has $189649.24 after 5 years, what was interest rate on the account?

• 8.1% p.a.

• 2.2% p.a.

• 4.7% p.a.

• 5.4% p.a.