Quiz about Compound Interest Percent Increase

Question 1

What will a deposit of $4,500 at 10% compounded semiannually be worth if left in the bank for six years?

Accepted Answer

c. $8,081.55

Answer

a. $8,020.22

Answer

b. $7,959.55

Answer

d. $8,181.55

Question 2

Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded quarterly for three years.

Accepted Answer

$4427.62

Answer

$4422.03

Answer

$4428.90

Answer

$4429.51

Question 3

Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.

Accepted Answer

$4428.90

Answer

$4422.03

Answer

$4427.62

Answer

$4429.51

Question 4

The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?

Accepted Answer

$689,546.99

Answer

$412,749.79

Answer

$529.305.61

Answer

$640,891.53

Question 5

Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded annually for three years.

Accepted Answer

$4422.03

Answer

$4427.62

Answer

$4428.90

Answer

$4429.51

Question 6

Bruno was given $2000 when he turned 3 years old. His parents invested it at a 2% interest rate compounded annually. No deposits or withdrawls were made. Which expression can be used to determine how much money Bruno had in the account when he turned 16?

Accepted Answer

2000(1.02)¹³

Answer

2000(0.98)¹³

Answer

2000(1+0.02)¹⁶

Answer

2000(0.02)¹⁶

Question 7

Heather decides to invest $3500 into her savings account and leave it there (untouched) for 25 years. The savings account has an interest rate of 6.4% compounded quarterly. How much will she have in 25 years?

Accepted Answer

$17,117.44

Answer

$16,504.74

Answer

$3,997.79

Answer

$20,319.90

Question 8

Average Rate of Change means

Accepted Answer

Slope

Answer

Growth Rate

Answer

Exponential

Answer

Starting Value

Question 9

Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 18 years?

Accepted Answer

$6,427.94

Answer

$6,273.50

Answer

$6,314.08

Answer

$6,385.72

Question 10

Andy invests $500 into an account with 4.8% interest, compounded monthly. How much will be in the account in 10 years?

Accepted Answer

$807.26

Answer

$799.06

Answer

$520.36

Answer

$877.61

Question 11

What is a, the starting term, for the function: f(x) = 300(1.16)^x?

Accepted Answer

300

Answer

1.16

Answer

.16

Answer

x

Question 12

Which of the following functions shows an initial amount of $15 and an increase of 35% each year?

Accepted Answer

y = 15(1.35)^x

Answer

y = 15(35)^x

Answer

y = 15(0.35)^x

Answer

y = 35(1.15)^x

Question 13

A stamp gets more expensive each year.  It increases in value by 60 % each year.  What is the growth FACTOR?

Accepted Answer

1.6

Answer

.6

Answer

1.06

Answer

.4

Question 14

Suppose you deposit $3000 in a savings account that pays interest at an annual rate of 4%.  What is the growth factor?

Accepted Answer

1.04

Answer

.96

Answer

1.4

Answer

$3000

Question 15

The original value of a painting is $1400, and the value increases by 9% each year. Write an exponential growth function to model this situation.

Accepted Answer

y = 1400 (1.09)^x

Answer

y = 1.09 (1400)^x

Answer

y = 1400 (.91)^x

Answer

y = 1.09x

Question 16

The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?

Accepted Answer

9765

Answer

9766

Answer

9006

Answer

5433

Question 17

Twenty years ago, Mr. Davis purchased his home for $160,000. Since then, the value of the home has increased about 5% per year. How much is the home worth today?

Accepted Answer

$424,527.63

Answer

$176,783.29

Answer

$57,357.75

Answer

$532,041,076.80

Question 18

The growth factor for this graph is

Accepted Answer

3

Answer

1

Answer

2

Answer

4

Question 19

The growth factor for this table is

Accepted Answer

12

Answer

2

Answer

4

Answer

144

Question 20

The equation for this table is

Accepted Answer

y = 50(3^x)

Answer

y = 3x + 50

Answer

y = 50x

Answer

y = 3x

Question 21

The equation for this table is

Accepted Answer

y = 25(4^x)

Answer

y = 4(25^x)

Answer

y = 4x

Answer

y = 4x

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