Exponential Equation Compound Interest

Cora invested $400 at a rate of 35% for 8 months, compounded continuously. How much is her investment worth after 8 months?

• $520.07

• $505.12

• $460.11

• $7,643.74

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually.

Which exponential equation can be used to find how much money Karla will earn in 15 years?

• 
• 
• 
• 

Which of the following exponential equations is the formula for compound interest?

• 
• 
• 
• 

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $4005.09

You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually.  How much extra did you pay by taking out the loan?

• $602.45

• $2,292.45

• $1,87.55

• $3,982.45

Jenny invests $7,530 in a savings account with a fixed annual interest rate compounded continuously. After 8 years, the balance reaches $12,169.04. What is the interest rate of the account?

• 4%

• 5%

• 6%

• 7%

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

• y = 15(35)^x

• y = 15(1.35)^x

• y = 15(0.35)^x

• y = 35(1.15)^x

What does the a in y=a(1+r)^x  represent?

• Time

• Rate

• Slope

• Initial Amount

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90

• $87,798.90

• $127,798

• $7,798

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10