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- 1. Multiple Choice
What does P represent in the equation A=P(1+r)^t
rate
principal
time
amount
- 2. Multiple Choice
Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?
$827.52
$831.10
$839.45
$846.80
- 3. Multiple Choice
You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?
$13,693.90
$1,363.90
$72,693.90
$73,793.90
- 4. Multiple Choice
You borrowed $1,690 for 5.5 years at an interest of 5.7%. How much is the total you pay?
$1,690
$2,292.45
$1,87.55
$3,982.45
- 5. Multiple Choice
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
- 6. Multiple ChoiceKarla 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
- 7. Multiple ChoiceEmily 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
- 8. Multiple ChoiceMonthly means how many times a year?41252365
- 9. Multiple ChoicePrincipal: $999
Interest Rate: 5.45%
Time: 19 years
Compounded Quarterly
State the future account balance.$2794.10$2738.11$2774.98$2807.11 - 10. Multiple ChoicePrincipal: $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 - 11. Multiple ChoiceJay'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
- 12. Multiple ChoiceThe 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 ChoiceSemi-Annually means how many times a year?4216
- 14. Multiple ChoiceCourtney 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
- 15. Poll
How do you think you understand this topic?
Bad. I need help.
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Good
Awesome!! I understand everything.
- Answer choicesTagsAnswer choicesTags