WorksheetsCompound Interest
Total questions: 15
Worksheet time: 2hrs 48mins
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
Hei-Hei has $1500 in a retirement account earning 5% interest compounded annually. After 5 years how much does Hei-Hei have in the account?
$1750
$2010.14
$2500
$1914.42
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
Daniel invests $360 in a bank account that is compounded annually for 8 years with an interest rate of 5.5%. What will be the total amount in the account after the 8 years is over?
$625.88
$950.12
$315.45
$552.49
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
What does the r stand for in this formula?
Initial amount
Final amount
Interest Rate
Time
The number of times compounded per year
If your money is compounded quarterly, what value do you use for n?
6
.25
25
4
55% is written as___ as a decimal.
55
0.055
5.5
0.55
