Worksheet

Compound interest with a formula

Grade 9 Math Worksheet - Building Confidence

NameDate

Circle the best answer, or write your answer on the line.

  1. Noah reads about Mr. Dunn's pretend account: 5% a year, compounded quarterly (4 times a year). In A = P(1 + r/n)^(nt), what is r/n as a decimal?

  2. Ren reads about Ms. Hale's pretend account: 2.4% a year, compounded monthly (12 times a year). In A = P(1 + r/n)^(nt), what is r/n as a decimal?

  3. Mr. Cole's pretend account holds $600 at 4% a year, compounded quarterly (4 times a year), for 7 years. Tala looks at the power nt. How many times is interest added?

  4. Ms. Shaw's pretend account holds $900 at 3% a year, compounded monthly (12 times a year), for 2 years. Zee looks at the power nt. How many times is interest added?

  5. The class's pretend account holds $450 at 6% a year, compounded 2 times a year, for 5 years. Ari looks at the power nt. How many times is interest added?

  6. Mr. Grove's pretend account holds $700 at 2% a year, compounded monthly (12 times a year), for 5 years. Bo looks at the power nt. How many times is interest added?

  7. Every arrow: × 1.01. Esme makes a growth table for Ms. Wells's pretend account: $500 at 4% a year, compounded quarterly, one row per quarter. To the nearest cent, what is row 3?

  8. Every arrow: × 1.005. Jun makes a growth table for Mr. Lane's pretend account: $800 at 6% a year, compounded monthly, one row per month. To the nearest cent, what is row 3?

  9. Every arrow: × 1.025. Kira makes a growth table for the class's pretend account: $1,200 at 5% a year, compounded twice a year, one row per half-year. To the nearest cent, what is row 3?

  10. Every arrow: × 1.015. Luz makes a growth table for Ms. Reyes's pretend account: $1,500 at 6% a year, compounded quarterly, one row per quarter. To the nearest cent, what is row 3?

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Compound interest with a formula

Answer Key - Grade 9 Math Worksheet - Building Confidence

Circle the best answer, or write your answer on the line.

  1. Noah reads about Mr. Dunn's pretend account: 5% a year, compounded quarterly (4 times a year). In A = P(1 + r/n)^(nt), what is r/n as a decimal?

    0.0125

  2. Ren reads about Ms. Hale's pretend account: 2.4% a year, compounded monthly (12 times a year). In A = P(1 + r/n)^(nt), what is r/n as a decimal?

    0.002

  3. Mr. Cole's pretend account holds $600 at 4% a year, compounded quarterly (4 times a year), for 7 years. Tala looks at the power nt. How many times is interest added?

    28

  4. Ms. Shaw's pretend account holds $900 at 3% a year, compounded monthly (12 times a year), for 2 years. Zee looks at the power nt. How many times is interest added?

    24

  5. The class's pretend account holds $450 at 6% a year, compounded 2 times a year, for 5 years. Ari looks at the power nt. How many times is interest added?

    10

  6. Mr. Grove's pretend account holds $700 at 2% a year, compounded monthly (12 times a year), for 5 years. Bo looks at the power nt. How many times is interest added?

    60

  7. Every arrow: × 1.01. Esme makes a growth table for Ms. Wells's pretend account: $500 at 4% a year, compounded quarterly, one row per quarter. To the nearest cent, what is row 3?

    $515.15

  8. Every arrow: × 1.005. Jun makes a growth table for Mr. Lane's pretend account: $800 at 6% a year, compounded monthly, one row per month. To the nearest cent, what is row 3?

    $812.06

  9. Every arrow: × 1.025. Kira makes a growth table for the class's pretend account: $1,200 at 5% a year, compounded twice a year, one row per half-year. To the nearest cent, what is row 3?

    $1,292.27

  10. Every arrow: × 1.015. Luz makes a growth table for Ms. Reyes's pretend account: $1,500 at 6% a year, compounded quarterly, one row per quarter. To the nearest cent, what is row 3?

    $1,568.52