Compound Interest Jeopardy

Evaluating Logs

100

log₆36

2

200

log₂16

4

300

log₄₉7

1/2

400

log₃1/27

-3

500

log₈1/2

-1/3

Definitions

100

The interest rate charged on a principal

Rate

200

The amount of money invested or borrowed

Principal

300

When money is compounded four times a year

What is Quarterly

400

When money is compounded two times a year

Semiannually

500

What is the answer to a logarithm?

An exponent

Compound Interest Formula

100

P = $13,000; R = 4%; N = semiannually; T = 4 years

What is $15,231.57

200

P = $52,500; R = 8%; N = annually; T = 8 years

What is $97,173.84

300

P = $453,900; R = 12%; N = quarterly; T = 3.5 years

What is $685,203.15

400

P = $3,927; R = 14%; N = monthly; T = 1.5 years

What is $4,838.77

500

P = $64,000; R = 5%; N = quarterly; T = 3 1/4 years

What is $75,216.89

Compound Interest Word Problems

100

John invested $16,000 at 3% compounded annually for 7 years. Find A.

What is $19,677.98

200

Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year. What will the account balance be after 12 years?

$21,360

300

Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously. What will the account balance be after 15 years?

$10.253.04

400

$250.00 is left in a savings account at 4.0% and the interest is compounded semi annually. If the balance is now $330.78, then how many years has the money been in the account?

7.07 years

500

You invest $1,000 at a fixed rate of 7% compounded monthly, when will your account reach $10,000? (round to the nearest year)

14 years

Solving for time or Principal

100

Jeremy borrowed $96,300 at 3% compounded annually for 8 years. Find A.

$121,989.96

200

Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2 times per year. What will the account balance be after 6 years?

$6,520.02

300

How much money must you invest now at 5.2%% interest compounded annually in order to have $20,000 at the end of 9 years?

$12,673.23

400

Sam invests a sum of money in a retirement account with a fixed annual interest rate of 6.79% compounded continuously. After 20 years, the balance reaches $14,037.16. What was the amount of the initial investment?

$3,610

500

John invests $8,589 in a retirement account with a fixed annual interest rate of 7% compounded continuously. How long will it take for the account balance to reach $21,337.85?

13 years