Compound Interest
Sheila deposits $250 into an account earning 6% compound interest per year. How much money will she have after one year has passed?
$265
Ben deposits $350 into an account earning 5% compounded interest yearly, then deposits another $100 into this account the next year. How much money will be in his account 5 years after the initial deposit?
$568.25
Jen’s account earns 2% compounded annual interest one year, 3% the next, and 7% the third. What is her average annual rate of return over this timeframe?
4%
What is the annual effective rate of an account with a 0.6% monthly rate?
7.4%
Jonathan deposits $610 into an account earning 4% compound interest per year. How much will the account be worth in 5 years?
$742.16
Every year, Anthony’s account earns compound interest at a 3% rate. He deposited $500 in 2020 and $400 in 2022, then withdrew $600 in 2023. How much money does the account have in 2026?
$391.60
Nvidia stock gives a -15.32% interest one year, a 16.08% the next, and a 56.97% the third. What is its average annual rate of return?
19.24%
Brianna deposits $750 into an account and has $900 one year later. What is the account's annual effective interest rate?
20%
Mike deposits 1,465 into an account with a 6.8% interest rate compounded annually. How much will the account be worth in 4 years and 6 months?
$1,969.74
Sasha’s account earns a 2% compound interest rate yearly. Sasha deposits $200 now, then another $200 each year for the next four years. She then withdraws $n at the beginning of the sixth year. If Sasha has $1000 after seven years, calculate the value of n.
102.46
An account earns 5% compounded annual interest for 4 years before the interest rate is bumped up to 8% for the next 3. Then, the interest rate is brought back down to 6% for another 6 years. What is the average annual rate of return?
6.15%
Robert deposits $1,600 into an account and 30 months later has $2,500. What is his annual effective rate?
21.42%