NEW
Font size
WorksheetsCompound Interest
Total questions: 10
Worksheet time: 23mins
Change 18% to a decimal
18
.18
.018
.18%
In the compound interest formula A=P(1+r)t what does the A stand for?
The amount of interest
The total amount
The interest rate
The time
In the compound interest formula A=P(1+r)t what does the P stand for?
The time
The total amount
The principal amount (original amount)
The interest rate
Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?
$565.70
$262609.38
$65.70
$630.20
Henry deposits $750 into a college savings account that is compounded annually when his parents received as a stimulus package. If Henry lets the money sit in the account without adding or removing any and receives a 8.5% interest rate, how much money will he have total after 5 years?
$1127.74
$1535.24
$2345.67
$850.76
If you wanted to amount of interest an account has earned after being compounded annually. What would you have to do after you found "A" using the formula A=P(1+r)t ?
Add A (total amount) plus P (original amount)
Subtract A (total amount from P (original amount)
Add P (original amount) plus A (total amount)
Subtract P (original amount) from A (total amount)
You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually. How much extra did you pay by taking out the loan? (What is the interest?)
$602.45
$2,292.45
$1,87.55
$3,982.45
Jay'den earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually.
What will be his balance after 15 year?
$827.52
$831.10
$839.45
$846.80
