FINAL REVIEW 2
Presentation
•
Mathematics
•
11th - 12th Grade
•
Practice Problem
•
Hard
Standards-aligned
SHELA BRAZEALE
Used 20+ times
FREE Resource
8 Slides • 9 Questions
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FINAL REVIEW 2
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COMPOUND INTEREST
Compound interest is when your principle and any earned interest both earn interest.
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Multiple Choice
Find the future value of $500 invested at 12% for 10 years compounded annually.
$1,052.92
$1,552.92
$10,529.20
$15,529.20
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Multiple Select
What is the BEST way to find the total interest earned on a compounding interest account? Choose all that apply
I = Prt
I = A - P
There is no way to separate the interest from the future value
There is no formula for interest for a compounding interest account, but it can be figured out using logic
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Multiple Choice
What is the total interest earned on an account with an initial deposit of $500 invested at 12% for 10 years?
$552.92
$1,052.92
$1,552.92
9
Fill in the Blanks
Find the future value of $1000 at 7.25% for 9 years compounded monthly. Round your answer to the nearest cent.
Type answer...
10
Fill in the Blanks
What is the total interest earned on $1000 invested at 7.25% interest for 9 years compounded monthly? Give answer to nearest cent
Type answer...
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Multiple Choice
Craig deposits $5,000 at 5.12% interest, compounded continuously for four years. What would his ending balance be to the nearest cent?
$613.40
$6,136.40
$61,364
$613,640
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Multiple Choice
How much interest did Craig earn on his account in four years?
$136.40
$1,136.40
$11,364
$113,640
15
Fill in the Blanks
If you invest $1,000 at an annual interest rate of 5% compounded continuously, calculate the final amount you will have in the account after five years. Round your answer to the nearest dollar
Type answer...
16
Fill in the Blanks
If you invest $20,000 at an annual interest rate of 1% compounded continuously, calculate the final amount you will have in the account after 20 years. Round your answer to the nearest dollar
Type answer...
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THANK YOU!
FINAL REVIEW 2
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