

Continuous Interest and Account Balance
Interactive Video
•
Mathematics, Science
•
9th - 12th Grade
•
Practice Problem
•
Hard
Emma Peterson
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount deposited in the bank?
$1,000
$1,500
$2,000
$2,500
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which formula is used to calculate continuous interest?
A = P(1 + rt)
A = P(1 + r/n)^(nt)
A = Pe^(rt)
A = P(1 + r)^t
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the variable 'R' represent in the continuous interest formula?
Account balance
Time in years
Annual interest rate
Principal amount
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate of 6% expressed as a decimal?
0.06
0.6
0.006
6.0
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the account balance after 2 years?
$1,800
$1,900
$2,000
Calculated using the formula
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the account balance after 5 years?
$2,024.79
$2,300.00
$2,100.00
$2,200.00
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which function on the calculator is used to calculate e raised to a power?
2nd LOG
2nd NATURAL LOG
2nd EXP
2nd POWER
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