Compounding Interest Practice

Kennedy 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?

• $4915.59
• $3933.28
• $2979.81
• $4005.09

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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

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You invest $1600 at an annual interest rate of 4.6% compounded continuously. How much will you have in the account after 4 years.

• $800.26
• $6,701.28
• $10,138.07
• $1,923.23

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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

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Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded monthly. What will be his balance after 15 years?

• $827.52
• $839.17
• $839.45
• $846.80

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Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded quarterly for three years.

• $4422.03
• $4427.62
• $4428.90
• $4429.51

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Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.

• $4422.03
• $4427.62
• $4428.90
• $4429.51

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CCSS.HSA.CED.A.1

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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

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

• $1,225

• $2,100

• $21,000

• $225.54

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Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

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