Compound interest extra practice

Quiz
•
Mathematics
•
9th Grade
•
Hard
+6
Standards-aligned
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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