
Compound Interest Investments
Authored by Daniel Kean
Mathematics
11th Grade
Used 1+ times

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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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?
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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