Compound Interest

Caiden earned RM475 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 years?

• RM827.52

• RM831.10

• RM839.45

• RM846.80

Your 3 year investment of RM20,000 received 5.2% interest compounded annually. What is your total return?

• RM23,285.05

• RM3,285.05

• RM2,385

• RM32,285

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent RM7,400, how much total will she have paid after 8 years?

• RM15,415.94

• RM15,683.28

• RM15,927.56

• RM16,349.72

The Henley's took out a loan for RM195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they have paid after 30 years?

• RM689,546.99

• RM429,305.61

• RM471,259.24

• RM494,546.99

Kennedy won RM3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded every three months, how much interest will she earn in 10 years?

• RM915.59

• RM933.28

• RM4,005.09

• RM1,005.09

Riley invested RM1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually,how much will Riley earn in 15 years?

• RM2,700.00

• RM2,706.86

• RM1,706.86

• RM1,893.45

Emily’s parents put RM1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually,what will be the balance after 18 years?

• RM6,273.50

• RM6,314.08

• RM6,385.72

• RM6,427.94

Your allowance of RM190 will earned an interest of 11% compounded annually for 1and 2/3 years. How much interest did you earn on your allowance?

• RM343.90

• RM153.90

• RM226.10

• RM36.10

Karla invested RM1,000 in savings bonds. If the bonds earn 6.75% interest compounded every six months, how much total will Karla earn in 15 years?

• RM1,584.62

• RM2,651.39

• RM2,706.86

• RM1,825.10

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1