Compound interest with a formula
Grade 9 Math Worksheet - Building Confidence
Circle the best answer, or write your answer on the line.
Milo reads about Ms. Frost's pretend account: 6% a year, compounded monthly (12 times a year). In A = P(1 + r/n)^(nt), what is r/n as a decimal?
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?
Pia reads about the class's pretend account: 3% a year, compounded 2 times a year. In A = P(1 + r/n)^(nt), what is r/n as a decimal?
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?
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?
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?
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?
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?
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?
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?
