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Simple And Compound Interest Exercises With Answers
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In an account that pays 6 9 compounded daily How much money will she have in 5 years 4 Thuy needs 1 850 in eight months for her college tuition How much money should she deposit lump sum in an account paying 8 2 compounded monthly to achieve that goal 5 Bank A pays 5 compounded daily while Bank B pays 5 12
1 Find the compound interest CI on Rs 12 600 for 2 years at 10 per annum compounded annually Solution Given Principal P Rs 12 600 Rate R 10 Number of years n 2 A P 1 R 100 n 12600 1 10 100 2 12600 1 1 10 2 12600 10 1 10 2 12600 11 10 11 10 126 121 15246
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Compound Interest Worksheet Answers
Compound Interest Worksheet Answers
Finite Math Module 2 Mathematics of Finance 2 1 Practice Simple and Compound Interest 1 Find the interest on a used car loan of 5000 at a rate of 16 for a period of 8 months Show Answer 2 Find the interest earned on an investment of 10 000 into a money market account that pays a simple interest rate of 1 75 over a 39 wk period
14 1 500 at 7 compounded annually for 3 years 15 1 240 at 8 compounded annually for 2 years 16 55 000 at 16 compounded semiannually for 2 years 17 28 600 at 7 9 compounded semiannually for 2 years 18 21 000 at 13 6 compounded quarterly for 4 years 19 12 700 at 8 8 compounded semiannually for 1 year 20 130
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Simple Interest And Compound Interest Here is everything you need to know about simple and compound interest for GCSE maths Edexcel AQA and OCR You ll learn how to calculate simple and compound interest for increasing and decreasing values and set up solve and interpret growth and decay problems
Continuously Compounded Interest Continuously Compounded Interest Calculator Exponential Growth Free worksheet pdf and answer key on Compound interest 20 scaffolded questions that start relatively easy and end with some real challenges Plus model problems explained step by step
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1 Find the compound interest CI on Rs 12 600 for 2 years at 10 per annum compounded annually Solution Given Principal P Rs 12 600 Rate R 10 Number of years n 2 A P 1 R 100 n 12600 1 10 100 2 12600 1 1 10 2 12600 10 1 10 2 12600 11 10 11 10 126 121 15246
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1 Answer Formula for simple interest is I Pnr 100 Here P 2000 n 2 r 6 Let us plug these values in the above formula I 2000 x 2 x 6 100 I 20 x 2 x 6 I 240 So the interest earned is 240 2 Answer Let P be the sum of money invested
1 Find the compound interest CI on Rs 12 600 for 2 years at 10 per annum compounded annually Solution Given Principal P Rs 12 600 Rate R 10 Number of years n 2 A P 1 R 100 n 12600 1 10 100 2 12600 1 1 10 2 12600 10 1 10 2 12600 11 10 11 10 126 121 15246
1 Answer Formula for simple interest is I Pnr 100 Here P 2000 n 2 r 6 Let us plug these values in the above formula I 2000 x 2 x 6 100 I 20 x 2 x 6 I 240 So the interest earned is 240 2 Answer Let P be the sum of money invested
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