Compound Interest

Compound Interest

8th Grade

30 Qs

quiz-placeholder

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Compound Interest

Compound Interest

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Medium

CCSS
HSF.BF.A.2, HSF-LE.A.1C, 7.RP.A.3

+6

Standards-aligned

Created by

Tilman Richards

Used 17+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

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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