Compound Interest

Compound Interest

3 years ago

kristinhoch4

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- Question 130 secondsQ. 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 years?answer choices
- Question 230 secondsQ. Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?answer choices
- Question 330 secondsQ. Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years?answer choices
- Question 430 secondsQ. Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years?answer choices
- Question 530 secondsQ. The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they have paid after 30 years?answer choices
- Question 630 secondsQ. 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?answer choices
- Question 730 secondsQ. Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually,how much interest will Riley earn in 15 years?answer choices
- Question 830 secondsQ. Town Bank offers a 2.25% interest rate, while Charter One offers 2.8%. Both banks compound interest annually. If Rob wants to set up a new account with $5,000,how much more money will he earn at Charter One over Town Bank after 25 years?answer choices
- Question 930 secondsQ. Twelve years ago, Claire put $1,800 in an account that pays an interest rate of 2.5% compounded semiannually.She now plans to take the money in that account and invest it in another account that earns 4% interest compounded monthly. How much money will be in this new account after 7 years?answer choices
- Question 1030 secondsQ. Shawn is buying a new Jet Ski for $12,500. He is considering two credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with 10% interest compounded annually. Which is the better option and how much will he save?answer choices

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