Compound and continuous interest Quiz

Name: ______________________   Date: __________   Score: ____ / 10

10 questions. Calculator allowed. Show your working. steplyclass.com/algebra-2/compound-and-continuous-interest/quiz/

1. 1

   $1000 is invested at 5% interest compounded yearly. How much is in the account after 3 years?
   1. A) A ≈ $0.05
   2. B) A ≈ $5
   3. C) A ≈ $1157.63
   4. D) A ≈ $1157630

2. 2

   $2000 is invested at 6% interest compounded twice a year. How much is in the account after 2 years?

   Answer: ____________________

3. 3

   $600 is invested at 6% interest compounded monthly. How much is in the account after 3 years?
   1. A) A ≈ $718.01
   2. B) A ≈ $4888.35
   3. C) A ≈ $7180.1
   4. D) A ≈ $6

4. 4

   $3000 is invested at 2% interest compounded yearly. How much is in the account after 5 years?

   Answer: ____________________

5. 5

   $2000 is invested at 3% interest compounded quarterly. How much is in the account after 4 years?
   1. A) A ≈ $2253.98
   2. B) A ≈ $3
   3. C) A ≈ $22539.8
   4. D) A ≈ $3209.41

6. 6

   $1500 is invested at 4% interest compounded daily. How much is in the account after 2 years?

   Answer: ____________________

7. 7

   $4000 is invested at 3% interest compounded continuously. How much is in the account after 6 years?
   1. A) A ≈ $47888.7
   2. B) A ≈ $1.03
   3. C) A ≈ $4788.87
   4. D) A ≈ $3

8. 8

   $2500 is invested at 4% interest compounded monthly. How much is in the account after 10 years?

   Answer: ____________________

9. 9

   $10000 is invested at 5% interest compounded continuously. How much is in the account after 18 years?
   1. A) A ≈ $24596.03
   2. B) A ≈ $5
   3. C) A ≈ $245960.3
   4. D) A ≈ $1.05

10. 10

    $6000 is invested at 2.5% interest compounded quarterly. How much is in the account after 8 years?

    Answer: ____________________