Compound Interest Concepts and Calculations
Interactive Video
•
Mathematics
•
9th - 10th Grade
•
Practice Problem
•
Hard
Thomas White
FREE Resource
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13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount invested in Mollie Davis's retirement account?
$7,500
$8,000
$7,800
$7,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At what rate is the retirement account compounded annually?
9%
8%
7%
6%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the time period for which the interest is calculated?
7 years
5 years
6 years
8 years
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of interest is being calculated in this problem?
Variable Interest
Compound Interest
Simple Interest
Fixed Interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula used to calculate compound interest?
A = P(1 + rt)
A = P(1 + r/n)^(nt)
A = P(1 + r)^t
A = P(1 - r)^t
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the percentage rate converted to a decimal?
Add 100
Divide by 100
Subtract 100
Multiply by 100
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the decimal equivalent of the 8% interest rate?
0.08
0.8
0.008
8.0
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