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Compound Interest

Authored by Ben Passmore

Mathematics

8th - 10th Grade

Used 33+ times

Compound Interest
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10 questions

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1.

FILL IN THE BLANK QUESTION

2 mins • 2 pts

Sachin invested $6000 for 2 years at 5% per annum compound interest. How many dollars did he have after two years?

2.

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2 mins • 2 pts

$5000 is invested for 3 years at 4% per annum compound interest. How much money is there after 3 years?

3.

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2 mins • 2 pts

Liz bought a car for $12,500. The car depreciated in value by 10% each year. How much was the car worth after 4 years?

4.

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2 mins • 2 pts

Rajiv invested $20,000 at 7% per annum compound interest. After n years, the value of his investment had grown to $30,014.61. For how many years did he invest it?

5.

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2 mins • 2 pts

Emma invested $x for 2 years, at a rate of 4.6% per year compound interest. After 2 years, the amount of money was $30,088.19. How much money did she invest?

6.

FILL IN THE BLANK QUESTION

2 mins • 2 pts

Liam invested $6200 for 3 years in a savings account. He gets 2.5% compound interest for each year. How much money does he have after 3 years?

7.

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2 mins • 2 pts

Paul bought a new car for $15,000. After one year, its value depreciated by 23%. Each year after, its value depreciated by 18%. After 3 years, what is the new value of Paul's car?

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