Free Printable G11 - Compound Interest

Worksheets

G11 - Compound Interest

Total questions: 15

Worksheet time: 31mins

Name

Class

Date

Caiden 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 years?

$827.52

$831.10

$839.45

$846.80

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?

$6,273.50

$6,314.08

$6,385.72

$6,427.94

Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years?

$33,299.42

$33,672.68

$34,157.04

$34,710.88

Olivia 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?

$15,415.94

$15,683.28

$15,927.56

$16,349.72

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they have paid after 30 years?

$412,749.79

$429,305.61

$471,259.24

$494,546.99

Shawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually. Which is the better option and how much will he save?

B; $573.83

B; $495.21

A; $573.83

A; $495.21

Change 6.5% to a decimal

.65

6.5

.065

.065%

Change 18% to a decimal

.18

.018

.18%

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

$1,225,54

$2,225.54

$22,255.40

$225.54

10.

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?

$2201.25

$2694.55

$2707.45

$2708.63

11.

You invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years.

$1,923.23

$10,138.07

$6,701.28

$800.26

12.

Hugo opened a savings account and deposited $800 as principal. The account earns 4% interest, compounded continuously. What is the balance after 5 years?

$832.00

$977.12

$973.32

$960.00

13.

Travis earned $180.72 doing odd jobs last summer and put it in a saving account that earns 15% interest compounded continuously. If he doesn't touch his money for 8 years, how much will he have?

$400

$500

$553

$600

14.

How much money do you need to invest at 2.8% compounded continuously in order to have $25,500 at the end of 8 years? Round your answer to the nearest dollar

$20,383

$2,715

$27,147

$2,038

15.

The poplulation of Eden is growing continuously at a rate of 1.9%. If the current population is 15,230, about how many years to reach 20,000?

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G11 - Compound Interest

Total questions: 15

Worksheet time: 31mins

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