Precalculus: Sequences and Series Compound Interest
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True or False? Compound interest is interest that is added to the principal before new interest earned is calculated.
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What is the total amount owed at the end of 5th year when borrowing $10000 at an interest rate of 7.2% that is compounded annually?
$14157.09
$15214.55
$16789.59
$18457.02
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What is the total amount owed at the end of 3rd half-year when borrowing $10000 at an interest rate of 3.8% that is compounded semi-annually?
$14898.88
$13487.55
$12458.40
$10580.90
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What is the total amount owed at the end of 4th quarter when borrowing $10000 at an interest rate of 6.8% that is compounded quarterly?
$9988.45
$10697.54
$11258.41
$13456.84
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What is the total amount owed at the end of 2th month when borrowing $10000 at an interest rate of 10.8% that is compounded monthly?
10180.81
$11159.11
$13241.98
$15948.12
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Determine the total interest earned when investing $4000 at 3% per year that is compounded annually after 4 years
$489.84
$502.04
$555.55
$565.84
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Determine the total interest earned when investing $15000 at 2.4% per year that is compounded quarterly after 5 years
$1784.45
$1895.55
$1906.39
$2048.89
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Determine the future value of your investment when you investing $7500 at 6% per year that is compounded monthly after 6 years
$8945.51
$9564.12
$10002.56
$10740.33
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Determine the future value of your investment when you investing $850 at 3.65% per year that is compounded daily after 1 year
$881.60
$945.45
$1000.85
$1256.56
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Eric invests $10 000 at 7.2% interest a year that is compounded monthly. How long will it take
for his investment to grow to $25000?
about 12 years
about 13 years
about 14 years
about 15 years
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Stevie purchased a $1000 Bond that earns 5% a year that is compounded annually. Stevie can redeem the bond in 7 years. Determine the future value of the bond.
$1407.10
$1589.85
$1989.45
$2245.45
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