Compound Interest
Authored by Jennifer Underwood
Mathematics
11th Grade
CCSS covered
Used 19+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount of $1,240.00 is deposited in a bank paying an annual interest rate of 2.85 %, compounded continuously. What formula would you use?
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You are saving for a down payment on a house. You need $200,000. How much should you deposit into an account earning 3.75% interest compounded weekly? Which equation below would help you calculate the answer to this question?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What equation would you use to calculate your weekly deposit if you needed $10,000 in 3 years, compounded monthly, at 2.4% interest?
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You are investing $1500 at 5.2% compounded continuously. Which equation would help you figure out how much money will you have in 12 years?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you deposit $1,000 at an annual interest rate of 3% into a savings account that earns simple interest. Which formula would you use to calculate the balance after five years?
B=P+Prt
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount of $300.00 is deposited in a bank every month paying an annual interest rate of 3 %, compounded daily for 10 years. Which formula would you use to find the future value?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount of $2,000.00 is deposited in a bank paying an annual interest rate of 2.85 %, compounded monthly. What formula would you use to find the future value?
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