TEK 8.12D - Compound Interest
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Last updated about 2 years ago
12 questions
Note from the author:
TEK 8.12D
Required
8.33
If you invest $500 in a savings account that has an annual interest rate of 4% compounded annually, what will the amount be after 3 years?
If you invest $500 in a savings account that has an annual interest rate of 4% compounded annually, what will the amount be after 3 years?
Required
8.33
A $200 investment is compounded quarterly at an annual interest rate of 3% for 2 years, what will be the final amount?
A $200 investment is compounded quarterly at an annual interest rate of 3% for 2 years, what will be the final amount?
Required
8.33
You invest $1000 at a 5% annual interest rate compounded yearly. What will be the total amount after 1 year?
You invest $1000 at a 5% annual interest rate compounded yearly. What will be the total amount after 1 year?
Required
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How much will $300 grow to after 5 years if it’s invested at a compounding annual interest rate of 10%?
How much will $300 grow to after 5 years if it’s invested at a compounding annual interest rate of 10%?
Required
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Which statement best describes compound interest?
Which statement best describes compound interest?
Required
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What is the key difference between simple and compound interest?
What is the key difference between simple and compound interest?
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If you were investing a lump sum for a long period, which type of interest would be best for growth?
If you were investing a lump sum for a long period, which type of interest would be best for growth?
Required
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What happens to the amount of interest you earn each year with compound interest?
What happens to the amount of interest you earn each year with compound interest?
Required
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If you borrow $2,000 at an annual compound interest rate of 5%, how much will you owe after 5 years?
If you borrow $2,000 at an annual compound interest rate of 5%, how much will you owe after 5 years?
Required
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What will $3,000 grow to in two years with an annual compounding rate of 4%?
What will $3,000 grow to in two years with an annual compounding rate of 4%?
Required
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Jack deposits $500 in a bank with an annual interest rate of 3%, compounded annually. What will the total be after 3 years?
Jack deposits $500 in a bank with an annual interest rate of 3%, compounded annually. What will the total be after 3 years?
Required
8.33
If the principal is $4000, compounded annually at a rate of 6% and the time is 3 years, what is the amount of interest?
If the principal is $4000, compounded annually at a rate of 6% and the time is 3 years, what is the amount of interest?