MathScore Practice: Continuous Compound Interest

Description: Calculate continuous compound interest given a balance, rate, and time.

Adaptive Learning Progression: Numbers get bigger.

Sample Levels (out of 3)

180	0% Mastery

Answer the following questions involving continuously compounded interest. Input all answers to the nearest dollar. Use 2.7 as the value for e.

1.	Interest Rate: 2% per year Starting Balance: $1870 Time Passed: 14 years What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest:
2.	Interest Rate: 3% per year Starting Balance: $1090 Time Passed: 13 years What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest:
3.	Interest Rate: 6% per year Starting Balance: $1830 Time Passed: 10 years What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest:

180	100% Mastery

Answer the following questions involving continuously compounded interest. Input all answers to the nearest dollar. Use 2.7 as the value for e.

1.	Interest Rate: 6% per year Starting Balance: $7900 Time Passed: 48 months What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest:
2.	Interest Rate: 3% per year Starting Balance: $5680 Time Passed: 96 months What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest:
3.	Interest Rate: 1% per year Starting Balance: $3730 Time Passed: 156 months What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? Total balance: Interest: