WorksheetsMastering Compound Interest: Calculating Time & Growth
Total questions: 10
Worksheet time: 5mins
A bank offers a savings account with an annual interest rate of 5% compounded annually. If you deposit $1,000, how much will you have in the account after 3 years?
1100.50
1200.00
1157.63
1050.75
You invest $2,500 in a certificate of deposit (CD) that earns 4% interest compounded quarterly. How much will you have after 5 years?
2500.00
3050.47
2900.25
3200.00
If you want to have $10,000 in your savings account in 6 years and the bank offers an interest rate of 3% compounded annually, how much do you need to deposit now?
7500.00
9000.00
10000.00
8396.62
A loan of $5,000 is taken out at an interest rate of 6% compounded semi-annually. How much will be owed after 4 years?
5000.00
6000.00
7000.00
6333.85
You plan to save $1,200 each year in an account that earns 7% interest compounded annually. How much will you have saved after 10 years?
$10,000.00
$15,000.00
$18,000.00
$16,452.82
If you invest $800 at an interest rate of 5% compounded monthly, how much will you have after 2 years?
875.50
883.59
900.00
850.00
A student takes a loan of $3,000 at an interest rate of 8% compounded annually. How much will the student owe after 3 years?
$3,779.14
$2,400.00
$3,500.00
$4,000.00
You want to accumulate $15,000 for a car in 5 years. If your investment earns 4% interest compounded annually, how much do you need to invest today?
12310.80
20000.00
10000.00
15000.00
A retirement account has an initial balance of $10,000 and earns 6% interest compounded annually. What will the balance be after 20 years?
32071.35
15000.00
25000.00
40000.00
If you invest $1,500 in a fund that offers 5% interest compounded quarterly, how much will you have after 4 years?
1500.00
1832.08
2000.00
1750.50
