Matching Pairs Computing Compound InterestOnline version Compound Interest:: A = P(1+r)^t A = total amount accrued P = Principal Balance r = rate as a decimal t = time in years by Garrett, Stephanie 1 T.J. invests $8,100 in an account that earns 7.2% compound interest. If T.J. does not make any additional deposits or withdrawals, how much interest will he earn after 7 years? 2 Abigail and Vicki both invest $14,000 into savings accounts that earn compound interest. If Abigail’s account earns 4.5% interest and Vicki’s account earns 6% interest, how much more interest will Vicki have earned after 7 years? 3 Lucas invests $12,500 in an account that earns 6.2% compound interest. If Lucas does not make any additional deposits or withdrawals, how much will be in his account after 60 months? 4 Landry earned $2,300 over the summer and decided to invest it in an account that earns 4% annual compound interest. If Landry does not make any other deposits or withdrawals, how much will be in her account after 20 years? 5 The Garcias have $12,000 in a savings account. The bank pays 3.5% interest on savings accounts, compounded annually. Find the total balance after three years. 6 When Lisa and Tom had their first child, they put $7,500 into a savings account that earns 6% compound interest. If Lisa and Tom did not add or remove anything from the savings account, how much interest will they have earned after 4 years? 7 A coin had a value of $1.17 in 1995. Its value has been increasing at 9% per year. What is the accrued value after 5 years? 8 Determine the amount of interest earned on a $2500 investment if it is invested at 5.25% annual interest compounded monthly for four years. 9 Gabriella decides to invest $6,500 into a savings account. She finds an account that earns 4.5% interest, and she invests the money for 5 years without making any other deposits or withdrawals. How much interest will Gabriella’s money earn if the account earns compound interest? 10 Mr. and Mrs. Boyce bought a house for $96,000 in 1995. Real estate values in their area increase approximately 4% each year. What was the value of the house in 2007? $567.81 $153,699.09 $1,968.58 $5,077.97 $1,998.75 $5,039.58 $16,886.23 $1,600.18 $13,304.61 $1.80
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