compound and continuous interest (a)

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

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

• 1.5

• 0.12

• 1.2

• 0.012

Tags

CCSS.5.NBT.A.3

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

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

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?

• I=Prt
• 4000-I = 8

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Jordan wants to accumulate $5,000,000 in 35 years for retirement. How much should he invest now if the investment earns 7% interest, compounded monthly?

• $1,400,000.00

• $527,684.12

• $2,100,000.00

• $350,000.00

Tags

CCSS.HSA.CED.A.4

Biannually means how many times a year?

• 2

• 4

• 6

• 12

Tags

CCSS.4.OA.A.2

• rate

• principal

• time

• returns

Tags

CCSS.HSA.SSE.A.1