Future Value and Interest Rate Comparison Quiz

Future Value and Interest Rate Comparison Quiz

8th Grade

10 Qs

quiz-placeholder

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Future Value and Interest Rate Comparison Quiz

Future Value and Interest Rate Comparison Quiz

Assessment

Quiz

English, Mathematics

8th Grade

Hard

Created by

Anthony Clark

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you invest $1,000 in a savings account with an annual interest rate of 5%, compounded annually, how much money will you have after 3 years?

1157.63

1200.00

1100.50

1050.75

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sarah has $2,000 to invest in a certificate of deposit (CD) that offers a 4% annual interest rate, compounded quarterly. What will be the total amount in her account after 5 years?

$2,440.38

$3,000.00

$2,000.00

$2,500.00

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

John is comparing two savings accounts. Account A offers a 3% interest rate compounded annually, while Account B offers a 2.5% interest rate compounded monthly. If he invests $1,500 in each account for 4 years, which account will yield more money?

Account A

Account A with monthly compounding

Account B

Account A with 2% interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan of $5,000 is taken out at an interest rate of 6% compounded annually. How much will the total amount owed be after 2 years?

$5,800

$6,000

$5,300

5618.30

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emily invests $800 in a mutual fund that has a 7% annual interest rate, compounded semi-annually. What will be the future value of her investment after 4 years?

1052.86

950.75

1200.50

900.00

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a bank offers a 5% interest rate compounded monthly, how much will $2,500 grow to after 3 years?

3100.00

2800.00

2904.00

2500.00

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mark wants to save for a new car and plans to invest $3,000 in a savings account with a 4.5% interest rate compounded annually. How much will he have after 6 years?

4200.50

4000.00

3500.00

3851.04

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