Compounded Interest

• Initial amount

• Final amount

• Rate

• Time in years

Krystal has $3000 invested at a 2% interest rate compounded annually. Which expression can be used to determine how much money Krystal had after 16 years?

What does the r stand for in this formula?

• Initial amount

• Final amount

• Rate

• Time

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05

• $3,285.05

• $2,385

• $32,285

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52

• $831.10

• $839.45

• $846.80

Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year

• $1,388

• $138.80

• $13.88

• None of the answers are correct.

Garrison deposited $500 in an account that earns 5% annual interest compounded annually. If he makes no withdrawals or deposits, how much interest will the account earn after 4 years?

Mathematical Equivalence

ON

Mr. Diable invested $3,500 in a 7 year CD that pays 4.2% interest compounded annually. How much interest will the CD earn over the 7 years?

• $147.00

• $245.00

• $1,168.12

• $4,668.12

Find the balance in the account after the given period.

$12,000 principal earing 4.8% compounded annually after 7 years.

• $3,243.19

• $16,661.35

• $15,243.19

• $4,661.35

Find the balance in the account after the given period.

$5000 deposit earning 1.5% compounded quarterly after 3 years

• $5,229.70

• $7,604.38

• $7,777.27

• $5,538.86