Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?
$1,584.62
$2,651.39
$2,706.86
$1,825.10
2. Multiple Choice
30 seconds
1 pt
Emily 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.
$15,415.94
$15,683.28
$15,927.56
$16,109.05
3. Multiple Choice
30 seconds
1 pt
Monthly means how many times a year?
4
12
52
365
4. Multiple Choice
30 seconds
1 pt
Which equation do you use when asked to compound daily?
A=Pert
A=(1+(r/n))nt
5. Multiple Choice
30 seconds
1 pt
Principal: $999 Interest Rate: 5.45% Time: 19 years Compounded Quarterly State the future account balance.
$2794.10
$2738.11
$2774.98
$2807.11
6. Multiple Choice
30 seconds
1 pt
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
7. Multiple Choice
30 seconds
1 pt
Principal: $5000 Interest Rate: 3.75% Time: 25 years Compounded Monthly State the future account balance.
$12712.31
$12,749.30
$12,657.59
$12550.84
8. Multiple Choice
30 seconds
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?
$827.52
$831.10
$839.45
$846.80
9. Multiple Choice
30 seconds
1 pt
P = 26,000 | Rate = 2.4% | 4 years | Compounded Continuously | Amount owed???
$2,496
$28,496
$3,406,924
$28,619.74
10. Multiple Choice
30 seconds
1 pt
e is...
a variable.
a number.
an equation.
nothing to worry about.
11. Multiple Choice
30 seconds
1 pt
What is the value of n if the question asks you to compound daily?
12
1
365
4
12. Multiple Choice
30 seconds
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?
$412,749.79
$529.305.61
$689,546.99
$640,891.53
13. Multiple Choice
30 seconds
1 pt
You invest $1,200 that is compounded continuously at 9% for 10 years. What is the equation you use?
A = 1200(1.09)10
A = 1200e..9
A = 1200e10
A = 1200 (.91)10
14. Multiple Choice
30 seconds
1 pt
Change 6.75% to a decimal.
67.5
.675
675
.0675
15. Multiple Choice
30 seconds
1 pt
Semi-Annually means how many times a year?
4
2
1
6
16. Multiple Choice
30 seconds
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?
$2201.25
$2694.55
$2707.45
$2708.63
17. Multiple Choice
30 seconds
1 pt
Which equation do you use when asked to determine the amount after being compounded continuously?
A=Pert
A=(1+(r/n))nt
18. Multiple Choice
30 seconds
1 pt
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?
B; $573.83 do something crazy
B; $495.21 get on the news
A; $573.83 get attention
A; $495.21 raise money for charity
19. Multiple Choice
30 seconds
1 pt
Compounded Continuously an investment of $400 at a rate of 35% for 2 years
$280
$680
$1,034.47
$805.50
20. Multiple Choice
30 seconds
1 pt
The rate for compounded interest needs to be in...