Enhanced Algebra - Compound Interest Practice

Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?

Answer explanation

$6,520.02

Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year. What will the account balance be after 12 years?

Answer explanation

$21,360.01

Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously. What will the account balance be after 15 years?

Answer explanation

$9,681.72

Maria invests $6,154 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 10 years?

Answer explanation

$13,286.02

Ryan invests a sum of money in a savings account with a fixed annual interest rate of 4.31% compounded 12 times per year. After 10 years, the balance reaches $12,855.94. What was the amount of the initial investment?

Answer explanation

$8,361.00

Ndiba invests a sum of money in a savings account with a fixed annual interest rate of 4.61% compounded 3 times per year. After 6 years, the balance reaches $5,485.85. What was the amount of the initial investment?

Answer explanation

$4,169.00

John invests a sum of money in a retirement account with a fixed annual interest rate of 2.63% compounded continuously. After 15 years, the balance reaches $1,912.41. What was the amount of the initial investment?

Answer explanation

$1,289.00

Anjali invests a sum of money in a retirement account with a fixed annual interest rate of 6.79% compounded continuously. After 20 years, the balance reaches $14,037.16. What was the amount of the initial investment?

Answer explanation

$3,772.83

Adam invests $6,139 in a retirement account with a fixed annual interest rate compounded continuously. After 17 years, the balance reaches $8,624.97. What is the interest rate of the account?

Answer explanation

2%

Huong invests $8,589 in a retirement account with a fixed annual interest rate of 7% compounded continuously. How long will it take for the account balance to reach $21,337.85?

Answer explanation

13 years