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20 questions
Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 3 years?
$2,273.50
$1,514.08
$2,040.23
$1,911.70
What does the n stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
What does the r stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
What does the P stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
David
invests $10,000 in a savings account that pays 3.5% simple interest. If David
makes no withdrawals or deposits to the account, how much will be in the
account after 7 years.
$2,450
$11,750
$12,450
Not here
Gilberto
invests $10,000 in a savings account that pays 4.75% simple interest. If Gilberto makes no withdrawals or deposits
to the account, how much will be in the account after 7 years?
$3,325
$13,325
$13,838.16
$13,000
Travis
invests $25,000 in a savings account that pays 2.75% simple interest. How much interest does he earn each year?
$787.50
$625
$657.50
$687.50
Audrey deposited $2,800 in a
savings account that pays 2.65% interest compounded annually. What is the total
value of the account after 7 years?
$562.57
$3362.57
$14,514.15
$2,569,680
Anne deposited $500 in an
account that earns 6% simple annual interest.
Shelly deposited $500 in an account that earns 6% annual interest
compounded annually. They leave the
money in the account for 4 years. Which
statement is true about the two investments after 4 years?
Shelly will have $131.24 more in her account
than Anne has in her account.
They will have the same
amount in their accounts.
Shelly will have $11.24 more
in her account than Anne has in her account.
Anne will have $11.24 more in
her account than Shelly has in her account.
Carly
deposited $800 in an account that earns 6% compounded annually. Lara deposited
$800 in an account that earns 6% simple interest. How much will each girl have
in their account at the end of 10 years if they make no withdrawals or deposits?
Carly: $1432.68 Lara: $1280
Carly: $1444.89 Lara: $1280
Carly: $1444.89 Lara: $1320
Carly: $1432.68 Lara: $1320
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