How to find compound interest

Practice Questions

SAT Math › How to find compound interest

Questions
4
1

A truck was bought for in 2008, and it depreciates at a rate of per year. What is the value of the truck in 2016? Round to the nearest cent.

2

If a cash deposit account is opened with for a three year period at % interest compounded once annually, which of the following is closest to the positive difference between the interest accrued in the third year and the interest accrued in the second year?

3

A five-year bond is opened with in it and an interest rate of %, compounded annually. This account is allowed to compound for five years. Which of the following most closely approximates the total amount in the account after that period of time?

4

Jack has , to invest. If he invests two-thirds of it into a high-yield savings account with an annual interest rate of , compounded quarterly, and the other third in a regular savings account at simple interest, how much does Jack earn after one year?

Return to subject