Compound Interest

Lucy invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Lucy earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10

Monthly means how many times a year?

• 4 
• 12
• 52
• 365

Tags

CCSS.3.MD.A.1

Principal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.

• $2794.10
• $2738.11
• $2774.98
• $2807.11

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.B.5

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

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

Jacob 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

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

• $412,749.79

• $529.305.61

• $689,546.99

• $640,891.53

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.3.MD.A.1

Samantha saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?

• $2201.25

• $2694.55

• $2707.45

• $2708.63

William 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 William 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