Calculating Interest Review | Baamboozle - Baamboozle

Kendall opens an account at the local bank by depositing $100 of her birthday money. She continues to deposit $100 each month for the next 5 years. If the account pays 2.25% interest, how much is in the account after 5 years?

$6232.34

Maya wants to have $50,000 saved for graduate school in 10 years. What single deposit would she need to make now using an account that pays 3%, compounded daily, to meet her goal?

$37041.37

How many times is interest compounded “biweekly”?

26

Brittany is 18 years old and saving for college loans. She wants to have $15,000 put away by the time she graduates. She opens a savings account with an APR of 3.9%, compounded weekly. How much should set aside from her paycheck so she can

$68.92/week

Rachel deposits $1,000 into an account that earns 3.7% interest compounded daily. What is the Annual percentage yield (APY)?

3.77%

What type of an account does not let the owner withdrawal until the money “matures”?

Certificate of deposit (CD)

Josh has $1113.94 in his checking account. During the week he goes to an ATM and withdrawals $60. He is charged a usage fee of $2.50. The following week he deposits her paycheck of $152.73. He makes two Amazon purchases, drawn from his chec

$1123.94

Conrad Savings Bank has a $50 overdraft fee. On Friday, Jeremy deposited his paycheck of $150 for a total account balance of $234.24. The next morning, he wrote a $250 check for an excessive amount of Reeses Peanut Butter Cups. The check cl

-$65.76

Which will pay out more in the long run- compound interest or simple interest?

Compound Interest

How much more would $1,000 earn in 5 years in an account compounded continuously than an account compounded quarterly if the interest rate on both accounts is 3.7%?

$1.02 more

Frances deposits $350 every quarter into a savings account that earns 4.5% interest compounded quarterly. What is the balance after 7 years?

$11,444.27

Lyn wants to take a trip to Australia in 2 years. She knows she will need about $4,200. How much should she deposit into an account monthly that pays 2.5% interest compounded monthly, in order to meet her goal?

$170.84

How can I calculate APY from any APR?

What is the name of the process of matching all the entries in your bank statement received from the bank and correcting any discrepancies?

Reconciliation

Breezy wants to know how much he needs to save each month to have a certain amount in the future. What formula should he use?

What are the numbers on the bottom of checks and what do they do?

Routing numbers indicate the bank the money is coming from. Account numbers indicate the account within that bank.

Fill out the check for $325.78 to someone in this class

A deposit of $500 in an account earns 6% simple interest. How much interest will it earn in 2 years?

$60

Pranav invests $3,521 in a retirement account with a fixed annual interest rate of 3% compounded continuously. What will the account balance be after 17 years?

$5863.49

Rob invests $8,626 in a retirement account with a fixed annual interest rate of 3% compounded continuously. What will the account balance be after 16 years?

$13,940.26

Kim invests $2,323 in a savings account with a fixed annual interest rate of 6% compounded continuously. What will the account balance be after 5 years?

$3135.72

Mofor invests $7,570 in a savings account with a fixed annual interest rate of 7% compounded continuously. What will the account balance be after 10 years?

$15,244.11

Mark invests $3,505 in a retirement account with a fixed annual interest rate of 6% compounded continuously. What will the account balance be after 20 years?

$11,637.01

Mary invests $8,817 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 5 years?

$13,153.42

Cyndi invests some money at 2% compounded continuously. If after 6 years she has $1691.25, what was her initial investment?

$1500

Dave invested $10,000 at 3% interest compounded continuously. How much will he have after 8 years?

$12,712.49

Find the simple interest: $1200 at 6% for 36 months

$216

Find the simple interest: $275 at 7.5% for 4 years

$82.50

Find the simple interest: $4380 at 10.5% for 2 years

$919.80

Find the simple interest: $2020 at 8% for 18 months

$242.40

Find the simple interest: $620 at 6.25% for 5 years

$193.75

Find the simple interest: $725 at 3.25% for 5 years

$117.81

A college receives a donation of $955,000 that earns 5.33% interest compounded daily. How much interest would the college earn in one year?

$52,278.53

How much interest would a business earn on a 10 million dollar deposit in one year at 5.12%, compounded daily.

$525,296

How much would a deposit of $10,000 earn in one year at 5.12% compounded daily?

$525.30

Find the interest for a six-year CD for $5000 at an interest rate of 4%, compounded annually.

$1326.60

Find the interest for a three-year CD for $5000 at an interest rate of 6%, compounded annually.

$955.08

Find the interest for a one-year CD for $5000 at an interest rate of 6%, compounded annually.

$300

Nancy deposits $1200 into an account that pays 3% interest, compounded monthly. What is her ending balance after one year?

$1236.50

Rico deposits $800 at 3.87% interest, compounded quarterly. What is his ending balance after one year?

$831.41

Kate deposits $2350 in an account that earns interest at a rate of 3.1%, compounded monthly. What is her ending balance after five years?

$2743.45

Sharon deposits $8000 in a one year CD at 3.2% interest, compounded daily. What is Sharon's ending balance?

$8,260.13

Marie deposits $1650 for three years at 3% interest, compounded daily. What is her ending balance?

$1805.38

Your $54,200 2 year car loan is at 15.1% compounded annually. What will you have paid for your car after 2 years?

$71,804.21

$3400 principal earning 3.6% compounded annually after 2 years. What is the total amount after 2 years?

$3649.21

$5000 principal earning 4% compounded annually after 10 years. What is the total amount after 10 years?

$7,401.22

Find the balance in the account after the given period. $12,000 principal earning 4.8% compounded annually after 7 years

$16,661.35

Martha makes an investment of $500 in an account that pays 6% interest compounded annually. How much will she have after 3 years?

$595.51

You borrowed $59,000 for 2 years at 11% which was compounded annually. What total will you pay back?

$72,693.90

An amount of $2,340.00 is deposited in a bank paying an annual interest rate of 3.1%, compounded. Find the balance after 3 years.

$2,564.44

You are investing $1500 at 5.2% compounded. How much money will you have in 12 years?

$2,756.01

$1000 compounded at an annual rate of 8.25% for 10 years.

$2,209.42

If you invest $20,000 at an annual interest rate of 1% compounded, calculate the final amount you will have in the account after 20 years.

$24,403.80

If you invest $2,000 at an annual interest rate of 13% compounded annually, calculate the final amount you will have in the account after 20 years.

$23,046.18

If you invest $500 at an annual interest rate of 10% compounded, calculate the final amount you will have in the account after five years.

$805.26

If you invest $1,000 at an annual interest rate of 5% compounded, calculate the final amount you will have in the account after five years.

$1,276.28

An amount of $3,000.00 is deposited in a bank paying an annual interest rate of 3 %, compounded annually. Find the balance after 4 years.

$3,376.53

An amount of $2,000.00 is deposited in a bank paying an annual interest rate of 2.85 %, compounded annually. Find the balance after 3 years.

$2,175.92

An amount of $1,240.00 is deposited in a bank paying an annual interest rate of 2.85 %, compounded annually. Find the balance after 2 years.

$1,311.69