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Compound Interest 2
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Compound Interest 2
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19 Questions

1. Your allowance of $190 got 11% compounded monthly for 1 2/3 years. What's it worth after the 1 2/3 (1.66) years?

2. A loan shark lends a gambler $100 to cover a debt. He charges 35% annual interest compounded monthly. How much does the gambler owe the loan shark at the end of 2 years?

3. A loan shark lends a gambler $1,000.00 to cover a debt. He charges 35% annual interest compounded continuously. How much does the gambler owe the loan shark at the end of one year?

4. The value of a $35,000 car depreciates at a rate of 10% per year. What will the car be worth in 5 years? (Hint: Not a Compound Interest problem).

5. If (or when) zombies start to take over the world, it is thought they will grow in number exponentially, doubling every day. If we assume we start with one zombie, how many zombies will there be in one week.

6. Your $54,200 2 year car loan is at 15.1% compounded annually. What will you have paid for your car after 2 years?

7. Your $40,000 college loan is charged 2.3% interest compounded quarterly. How much money will you have paid if you pay off your loan in 15 years?

8. Once the zombie apocalypse hits humans will decrease at an exponential rate of 7.5% every month. How many people will be left in this classroom after one year, if there are 35 people today?

9. You borrowed $59,000 for 2 years at 11% which was compounded annually. What total will you pay back?

10. Your 3 year investment of $20,000 received 5.2% interested compounded semi annually. What is your total return?

11. A Kobe Bryant rookie, basketball card initially cost $1.25 when you bought it in 1996. The value of the card increases exponentially at a rate of 18% each year. How much is the card worth today, in 2016?

12. If (or when) zombies start to take over the world, it is thought they will grow in number exponentially, tripling every day. If we assume we start with one zombie, how many zombies will there be in one week.

13. The value of Lebron James' Miami Heat jersey lost value at a continuous exponential rate of 2% each month after he left the team 69 months ago. If his jersey was valued at $175 when he left the team, what is it's value now?

14. The value of Lebron James' Cleveland Cavaliers jersey gained value at an exponential rate of 4.5% each year after he joined the team 3 years ago. If his jersey was valued at $100 when he joined the team, what is it's value now?

15. A Phillip Rivers rookie, football card initially cost $2 when you bought it in 2008. The value of the card increases exponentially at a rate of 13% each year. How much will the card be worth in 2030?

16. Your 6 year investment of $40,000 at 14% compounded quarterly is worth how much now?

17. Martha makes an investment of $500 in an account that pays 6% interest compounded continuously. How much will she have after 3 years?

18. The value of a $25,000 car depreciates continuously at a rate of 12% per year. What will the car be worth in 5 years? (Hint: Not a Compound Interest problem).

19. A Kobe Bryant rookie, basketball card initially cost $1.25 when you bought it in 1996. The value of the card increases exponentially at a rate of 18% each year. How much will the card be worth in 2030?

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