Compounded Interest Word Problems

Compounded Interest Word Problems

11th Grade

15 Qs

quiz-placeholder

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Compounded Interest Word Problems

Compounded Interest Word Problems

Assessment

Quiz

Mathematics

11th Grade

Hard

CCSS
HSF-LE.A.1C, HSF.BF.A.2, HSF.LE.A.2

Standards-aligned

Created by

Anthony Clark

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Jenny has $20 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much interest will she earn in 2 years?

$2.05

$45.79

$1.99

$7.51

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Lauren has $90 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much will she have in 2 years?

$99.23

$21.98

$56.46

$9.21

Tags

CCSS.HSF-LE.A.1C

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Kelsey deposited $30 in a savings account earning 10% interest, compounded annually. To the nearest cent, how much interest will she earn in 3 years?

$9.93

$2.01

$17.60

$5.75

Tags

CCSS.HSF.BF.A.2

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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 interest will she earn in 10 years?

$915.59                Rome

$933.28             Sydney

$979.81               Dublin

$1,005.09              Paris

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the compound interest formula A=P(1+r)t what does the A stand for?

The amount of interest

The total amount

The interest rate

The time

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the compound interest formula A=P(1+r)t what does the P stand for?

The time

The total amount

The principal amount (original amount)

The interest rate

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

$565.70

$262609.38

$65.70

$630.20

Tags

CCSS.HSF-LE.A.1C

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