Compound Interest

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

Front

Olivia buys furniture on credit with 9.5% interest compounded quarterly. She spent $7,400. How much will she have paid after 8 years?

Back

$15,683.28

Front

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

Back

$12,749.30

Front

Interest rate needed to grow $1,400 to $2,500 in 10 years with monthly compounding?

Back

5.81%

Front

Given an investment of $1,500:
Which investment would have a larger balance after 5 years?
Option 1 - 4% compounded monthly
Option 2 - 3.9% compounded daily.

Back

Option 1

Front

Loan amount: $195,000, Interest rate: 4.3% compounded annually, Duration: 30 years

Back

$689,546.99

Front

Shawn is buying a new Jet Ski for $12,500. He is considering 2 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 option is better and how much will he save? Options: A) A; $495.21, B) A; $573.83, C) B; $495.21, D) B; $573.83

Back

Option B; $573.83

Front

You want to save $5,000 for future family vacation. If the bank pays 4.3% compounded monthly for 3 years, how much will you need to invest?

Back

$4,395.89

Front

Jimmy invested $200 in a retirement account with a 20% annual compound interest rate. How much will be in the account after 40 years?

Back

$293954