Exponential Functions and Compound Interest

Find the total amount in the account to the nearest cent if the interest is compounded annually.

$2750 at 8% for 2 years

• $2200

• $3207.60

• $8910

• $3222.06

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 will she have in her account in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $4005.09

If $400 is invested at 35% interest, compounded continuously, for 2 years, what is the ending balance?

• $280

• $680

• $1,034.47

• $805.50

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54

• $2,225.54

• $22,255.40

• $225.54

• 20 years

• 18 years

• 21 years

• 19 years

Ash has $8,000 in a savings account. The interest rate is 3% compounded semi-annually .

To the nearest cent, how much will he have in his account in 4 years?

• $9,004.07

• $2,2848.80

• $9,011.94

• $8,242.71

• $32, 437.47

• $35,247.45

• $29,675.20

• $38,296.96

5%

7%

4%

6%

• 5%

• 7%

• 4%

• 6%

How much would Zion earn on a deposit of $10,000 one year at 5.12% compounded daily?

• $512.00

• $525.30

• $10,523.30

• $10,512.00

Find the balance in an account that has $300 invested at 6.5% for 4 years compounded semi-annually.

• $387.47

• $496.50

• $7,800.00

• $385.94