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

Quiz
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Other
•
9th Grade
•
Medium
Staci Jenks
Used 29+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
$831.10
$835.45
$629.95
$846.80
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?
$6,273.50
$6,314.08
$6,385.72
$6,427.94
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
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 $7,400, how much total will she have paid after 8 years?
$15,415.94
$15,683.28
$15,927.56
$16,349.72
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they have paid after 30 years?
$412,749.79
$429,305.61
$471,259.24
$494,546.99
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Twelve years ago, Claire put $1,800 in an account that pays an interest rate of 2.5% compounded semiannually.She now plans to take the money in that account and invest it in another account that earns 4% interest compounded monthly. How much money will be in this new account after 7 years?
$3,207.40
$3,348.96
$3,574.15
$3,733.62
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Shawn is buying a new Jet Ski for $12,500. He is considering two 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 is the better option and how much will he save?
B; $573.83
B; $495.21
A; $573.83
A; $495.21
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