Calculating Interest Review | Baamboozle - Baamboozle

How many times is interest compounded “biweekly”?

26

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

3.77%

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

How can I calculate APY from any APR?

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