Compound Interest
Quiz
•
Mathematics
•
8th Grade
•
Practice Problem
•
Medium
+6
Standards-aligned
Tilman Richards
Used 17+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after 1 year?
$105
$1,605
$1,717.35
$300
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When calculating interest, how do you write the percent?
a fraction
a decimal
a whole number
depends on the problem
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Steve deposited $5,000 in a savings account that pays 4% interest compounded annually. Which formula could be used to find the value of the account after 3 years?
A = 5,000(1 + 4)3
A = 5,000(1 + 0.04)3
A = 5,000(1 + 0.4) x 3
A = 5,000(0.04)3
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Garrison deposited $400 in an account that earns 5% compound interest. How much money will the account have altogether after 2 years?
$440
$40
$41
$441
Tags
CCSS.HSF.BF.A.2
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
the amount of interest earned
the amount of time that has passed
the total amount of money in the account, including interest
the amount required to invest
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If $1,000 is invested at 3% compound interest, how much money will be in the account altogether after 2 years?
$60.90
$1,060.90
$1,060
The answer is not here.
Tags
CCSS.HSF-LE.A.1C
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Interest is _________
money paid or collected for borrowing money
always given to you by the bank
always bad
always good
Tags
CCSS.7.RP.A.3
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