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Life Skills

12th

grade

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Future Value of Investments

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20 questions

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  • 1. Multiple Choice
    5 minutes
    1 pt

    Hannah and Alex are 30 years old and want to retire at 65. They deposit $4,000 each year into an account that pays 3.4% interest, compounded annually. What is the account balance when Hannah and Alex retire?

    $481,876.97

    $360,729.25

    $261,493

    $405,671.89

  • 2. Multiple Choice
    5 minutes
    1 pt

    Spongebob and Squidward want to retire when they are 65, but they are currently 20 years old. They deposit $3,000 each year in a savings account that earns 2.9% interest, compounded semiannually What will the balance be when they retire?

    $359,860.39

    $173,776.98

    $180,980.18

    $184,908.23

  • 3. Multiple Choice
    5 minutes
    1 pt

    Jessica and Michael open an online savings account that has 3.6% annual interest rate, compounded monthly. If they deposit $1,200 every month, how much will be in the account after 10 years?

    179,879.20

    $180,950.70

    $173,022.87

    $172,035.65

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