Compound interest extra practice

Compound interest extra practice

9th Grade

10 Qs

quiz-placeholder

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Compound interest extra practice

Compound interest extra practice

Assessment

Quiz

Mathematics

9th Grade

Hard

CCSS
HSA.CED.A.1, HSF.LE.A.1, HSF.LE.A.2

+6

Standards-aligned

Created by

Geoffrey Lufanana

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Find the total value of an investment if £220 is invested at 4.7% pa for 5 years compounded twice yearly?

£256.78

£258.94

£261.12

£263.32

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Find the total value of an investment if £270 is invested at 5.2% pa for 10 years compounded monthly?

£437.82

£442.16

£446.56

£451.02

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the interest earned by an investment if $1110 which is invested at 4.1% pa for 8 years compounded quarterly.

$363.12

$366.24

$369.38

$372.54

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Calculate the interest earned by an investment if $7430 which is invested at 1.5% pa for 6 years compounded every six months.

$671.70

$674.05

$676.42

$678.81

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If €450 is invested at 5.7% pa for 8 years compounded monthly, find the overall percentage growth of the €450 during the 8 years.

35.12%

35.48%

35.84%

36.20%

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Claire has the choice of two savings plans in which she can invest £900 for 8 years. The first plan offers a rate of 4.1% pa compounded monthly. The second plan offers a rate of 4.7% pa compounded twice each year. How much more money will Claire make if she chooses the best plan?

£32.56

£34.82

£37.14

£39.52

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A famous actor invests £1700 in a high interest savings scheme which offered a rate of 5.7% pa compounded twice yearly. After five years the scheme began compounding monthly. How much was the investment worth after 10 years?

£2,607.82

£2,623.16

£2,638.56

£2,654.02

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

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