WorksheetsCompound Interest
Total questions: 20
Worksheet time: 1hrs 2mins
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)
Julia invested $1000 for college in an account earning 5% compounded annually. When she checked the account after 4 years, how much money did she find in the account?
Not enough
$563.24
$1215.51
$3200.12
Principal: $5000
Interest Rate: 3.75% p.a.
Time: 25 years Compounded Monthly
State the future account balance.
Bruno was given $2000 at birth . His parents invested it at a 2% interest rate compounded annually. No deposits or withdrawls were made. Which expression can be used to determine how much money Bruno had in the account when he turned 13?
2000(1+0.02)13
2000(1-0.02)13
2000(1+0.02)16
2000(1-0.02)16
What does r represent?
interest rate
time
principal
total amount
Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% p.a. compounded monthly, how much total will he have paid after 5 years.
