Compound Interest
Authored by ADRIANA RIVERA
Mathematics
8th Grade
CCSS covered
Used 6+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Jay'den 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?
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?
Tags
CCSS.HSF-LE.A.1C
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Courtney saved up $2,200 working as a waitress over the summer. She put this money into a bank account that earned 5.2% interest and is compounded daily. How much will she have in her account at the end of 4 years?
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
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?
6.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
The compound interest formula is:
A = P(1 + r)t
What does the A represent?
The amount of interest earned.
The amount of time that has passed.
The total amount of money after a certain amount of time.
The amount required to invest.
Tags
CCSS.HSF-IF.C.8B
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?
$1,225,54
$2,100.34
$22,255.40
$225.54
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