Compound interest with a formula
Grade 9 Math Worksheet - Challenge Me
Circle the best answer, or write your answer on the line.
$2,000 sits in Ms. Shaw's pretend account at 6% a year for 3 years. Noah rounds each balance to the nearest cent. How much more does monthly compounding give than yearly?
$5,000 sits in Mr. Lane's pretend account at 4% a year for 5 years. Pia rounds each balance to the nearest cent. How much more does quarterly compounding give than yearly?
$1,000 sits in the class's pretend account at 5% a year for 10 years. Ren rounds each balance to the nearest cent. How much more does monthly compounding give than yearly?
$3,000 sits in Ms. Frost's pretend account at 2% a year for 6 years. Tala rounds each balance to the nearest cent. How much more does monthly compounding give than yearly?
After 2 years at 4% a year, compounded quarterly, Mr. Grove's pretend account holds $1,082.86. Zee works backward. To the nearest dollar, what was the deposit?
After 3 years at 6% a year, compounded monthly, Ms. Hale's pretend account holds $598.34. Ari works backward. To the nearest dollar, what was the deposit?
After 4 years at 5% a year, compounded twice a year, Mr. Dunn's pretend account holds $3,046.01. Bo works backward. To the nearest dollar, what was the deposit?
After 5 years at 3% a year, compounded monthly, Ms. Wells's pretend account holds $929.29. Esme works backward. To the nearest dollar, what was the deposit?
Ms. Hale compares two pretend accounts, each starting with $1,000 for 10 years. A: 5% compounded yearly. B: 4.9% compounded monthly. Jun checks. Which ends with more?
- Account A
- They end the same
- Account B
Ms. Shaw compares two pretend accounts, each starting with $1,000 for 10 years. A: 6% compounded yearly. B: 5.85% compounded quarterly. Luz checks. Which ends with more?
- Account A
- They end the same
- Account B
