Compound Interest Practice (7.2-3)

Front

How much would Zion earn on a deposit of $10,000 with an interest rate at 5.12% compounded daily after 1 year?

Back

$525.30

Front

Semi-Annually means how many times a year?

Back

2

Front

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

Back

$2,706.86, 2706.86, 2,706.86, $2706.86

Front

Heather invested $8,000 in a 4-year Certificate of Deposit (CD) that pays 4.1% interest compounded annually. What is the value of the CD at the end of the 4 years?

Back

$9,394.92

Front

Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

Back

$4005.09

Front

Cora invested $400 at a rate of 3.5% for 8 years, compounded continuously. How much is her investment worth after 8 years?

Back

$529.25

Front

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

Back

Daily - so you earn money more often

Front

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

Back

$2,225.54

Front

Hannah invested $4000. How much money will she have in 15 years if the interest rate of 6% is being compounded continuously?

Back

9838.41

Front

Back