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Compound Interest & Half Life Word Problems

Total questions: 9

Worksheet time: 45mins

Name
Class
Date
1.

Lauren has $90 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much will she have in 2 years?

a)

$99.23

b)

$21.98

c)

$56.46

d)

$9.21

2.
Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?
a)
$1,584.62
b)
$2,651.39
c)
$2,706.86
d)
$1,825.10
3.
Emily would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.
a)
$15,415.94
b)
$15,683.28
c)
$15,927.56
d)
$16,109.05
4.

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?

a)
$827.52
b)
$831.10
c)
$839.45
d)
$846.80
5.

Courtney 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 daily. How much will she have in her account at the end of 4 years?

a)
$2201.25
b)
$2694.55
c)
$2707.45
d)
$2708.63
6.
If 10 mg of iodine 131 is given to a patient, how much is left after 24 days? The half-life of iodine-131 is 8 days.
a)
1.25mg
b)
1.25g
c)
10g
d)
10mg
7.
The half-life of strontium-90 is 25 years. How much strontium-90 will remain after 100 years if the initial amount is 4.0 g?
a)
3.0g
b)
0.25mg
c)
0.3g
d)
0.25g
8.
You have 100 grams of radioactive C-14. The half life of C-14 is 5730 years. 
How many grams are left after 1 half life? 
a)
100 grams
b)
25 grams
c)
2 grams
d)
50 grams
9.

What would be the "a" value (initial value) for this problem?

A local zoo has a population of 32 meerkats. They are doubling every 5 years. How many would there be in 10 years?

a)

32

b)

2

c)

5

d)

10