STAAR Review #10

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Which class period do you have math lab?

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• 5th

5. An employee puts $10,000 into a retirement account that offers 9% interest compounded annually. The employee makes no additional deposits or withdrawals. What is is the amount of interest the employee will have earned at the end of 5 years? Round to the nearest cent.

A $12,000 savings account earns 3% simple interest per year on its purchase price. What is the total amount in the account after 4 years? Hint: Total Amount = Interest + Principal

Jack’s Aunt gave him $3,000 to save until he starts college in four years. His Aunt agreed to pay him an additional 6.5%simple annual interest on the initial amount. How much interest will Jack’s Aunt have given him at the end of 4 years?

Gavin opened a savings account with a principal balance of$2,250 and will not make any additional deposits or withdrawals. The account earns 2.4% interest compounded annually. What is the total amount that Gavin will have in his account at the end of 6 years?

Answer the question below.

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