Compound Interest

Jay'den 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 year?

• $827.52
• $831.10
• $839.45
• $846.80

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

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

How much money should I save in an account with interest rate 4% compounded quarterly if I want to have $4500 in my account  in 5 years?

• $3463.04
• $3366.58
• $3687.95
• $3903.18

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³
• 2000(1-0.02)¹³
• 2000(1+0.02)¹⁶
• 2000(1-0.02)¹⁶

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% for 2 years

• $2200.00
• $3207.60
• $8910.00
• $2750

A necklace is appraised at $1750. If the value of the necklace increased at a quarterly rate of 3%, how much was it worth 5 years ago?

• $1561.78
• $1576.58
• $1587.95
• $1507.08

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 year?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

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

• $307,042,791
• $5,000
• $3,250
• $4,395.89

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Matt wants to have a total of $3000 at the end of 5 years. if invested at 4.8% interest compounded semiannually how much should he put in the account in order to have $3000 at the end of the 5 years?

• $2473.04
• $2366.58
• $2067.95
• $1902.18