Compound interest extra practice

Find the total value of an investment if £220 is invested at 4.7% pa for 5 years compounded twice yearly?

• £256.78

• £258.94

• £261.12

• £263.32

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Find the total value of an investment if £270 is invested at 5.2% pa for 10 years compounded monthly?

• £437.82

• £442.16

• £446.56

• £451.02

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Calculate the interest earned by an investment if $1110 which is invested at 4.1% pa for 8 years compounded quarterly.

• $363.12

• $366.24

• $369.38

• $372.54

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Calculate the interest earned by an investment if $7430 which is invested at 1.5% pa for 6 years compounded every six months.

• $671.70

• $674.05

• $676.42

• $678.81

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CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

If €450 is invested at 5.7% pa for 8 years compounded monthly, find the overall percentage growth of the €450 during the 8 years.

• 35.12%

• 35.48%

• 35.84%

• 36.20%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Claire has the choice of two savings plans in which she can invest £900 for 8 years. The first plan offers a rate of 4.1% pa compounded monthly. The second plan offers a rate of 4.7% pa compounded twice each year. How much more money will Claire make if she chooses the best plan?

• £32.56

• £34.82

• £37.14

• £39.52

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.LE.A.1

A famous actor invests £1700 in a high interest savings scheme which offered a rate of 5.7% pa compounded twice yearly. After five years the scheme began compounding monthly. How much was the investment worth after 10 years?

• £2,607.82

• £2,623.16

• £2,638.56

• £2,654.02

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

The total value of an investment was $1292.21 after $790 was invested for 9 years compounded monthly. Find the interest rate.

• 3.25%

• 3.50%

• 3.75%

• 4.00%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Find the number of years it would take for the value of an investment to be worth $1153.72 if an original amount of $750.00 was invested at a rate of 3.1% compounded twice yearly. [Give your answer to this question to the nearest whole number of years.]

• 6 years

• 7 years

• 8 years

• 9 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

An investment of x dollars grows to 3x dollars after five years in a special super-high interest account compounding annually. Find the interest rate to two decimal places.

• 8.00%

• 8.25%

• 8.50%

• 8.75%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.A.1

CCSS.HSF.BF.B.5

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2