Compound Interest Problems
Quiz
•
Mathematics
•
11th Grade
•
Practice Problem
•
Medium
Khalid Khan
Used 13+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $1000 is deposited in a bank at 5% interest (compounding quarterly) for 3 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$1150
$1225
$1075
$1160
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $2000 is deposited in a bank at 4% interest (compounding annually) for 2 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$2080
$2160
$2163
$2320
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $1500 is deposited in a bank at 6% interest (compounding semi-annually) for 4 years?
Hint: Use formula: A = P (1 + r/n)^n.t
Semi-anually=half-yearly
$1782
$1894
$1900
$2118
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $500 is deposited in a bank at 3% interest (compounding monthly) for 5 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$540
$580
$620
$660
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $3000 is deposited in a bank at 2% interest (compounding annually) for 6 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$3240
$3378
$3480
$3600
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $2500 is deposited in a bank at 7% interest (compounding semi-annually) for 5 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$2750
$3000
$3250
$3526
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will be the final amount if $4000 is deposited in a bank at 1% interest (compounding monthly) for 3 years?
Hint: Use the formula: A = P (1 + r/n)^n.t
$4121
$4240
$4360
$4480
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