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Mathematics

9th - 12th Grade

CCSS covered

Used 2+ times

compound and continuous interest (a)
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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

If $2,000 is invested at 4% interest, compounded continuously, for three years, what is the ending balance?

$2,248.29

$2,240.00

$2,240.80

$2,400.00

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Luna 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 quarterly. How much will she have in her account at the end of 8 years?

$3,334.95

$1,126.02

$3,326.02

$2,439.49

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Change 1151\frac{1}{5} % to a decimal value that can be used in the compounding formulas

1.5

0.12

1.2

0.012

Tags

CCSS.5.NBT.A.3

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Michael invests $500 into an account with 4.8% interest, compounded monthly. How much will be in the account in 10 years?

$799.06
$520.36
$807.26
$877.61

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________. 

the amount of money borrowed or deposited
the amount taxed
the percent interest for this year
the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

3 mins • 5 pts

Meghan puts $4,000 into a savings account which offers 8% interest and compounds continuously for 3 years. Which expression could be typed into the calculator to see how much money Meghan will have after 3 years?

B=4000(1+.083)1(3)B=4000\left(1+\frac{.08}{3}\right)^{1\left(3\right)}

I=Prt

4000-I = 8

B= 4000e0.08×34000e^{0.08\times3}

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

What does the n stand for in this formula?

Initial amount

Final amount

Rate

Time

The number of times compounded per year

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