Compound Interest

$2000 is deposited at 12% per year, compounded continuously. Find the balance after 7 years.

• $4572.89

• $4632.73

• $3789.76

• $5214.89

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90
• $87,798.90
• $127,798
• $7,798

Tags

CCSS.HSF-LE.A.1C

Your $440 gets 5.8% interest compounded annually for 8 years. What will your $440 be worth in 8 years?

• $250.78

• $690.78

• $1,130

• $940.78

Tags

CCSS.HSF-LE.A.1C

What do the variables stand for in this equation?

• A=Amount

  P=Principle

  R=Return

  T=Time

• A=Amplitude

  P=Principle

  R=Return

  T=Time

• A=Amount

  P=Principle

  R=Rate

  T=Time

The 1985 population estimate for India was 766 million, and the population has been growing continuously at a rate of about 1.82% per year. Assuming that this rapid growth rate continues, estimate the population N(t) of India in the year 2045 (Round you answer to the nearest million).

• 2,283,000,000

• 2,463,000,000

• 1,876,000,000

• 2,321,000,000

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?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

What does the n stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

• The number of times compounded per year

If you deposit $5000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?

• About 8.1 years

• About 7.8 years

• About 8 years

• About 7.9 years

Tags

CCSS.HSF.LE.A.4

At 3% annual interest compounded monthly, how long will it take to double your money?

• Around 19.6 years

• Around 17.4 years

• Around 23.1 years

• Around 18.6 years

Tags

CCSS.HSF.LE.A.4