Compound Interest Problems

What will be the final amount if $1000 is deposited in a bank at 5% interest (compounding quarterly) for 3 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $1150

• $1225

• $1075

• $1160

What will be the final amount if $2000 is deposited in a bank at 4% interest (compounding annually) for 2 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $2080

• $2160

• $2163

• $2320

What will be the final amount if $1500 is deposited in a bank at 6% interest (compounding semi-annually) for 4 years?

Hint: Use formula: A = P (1 + r/n)^n.t

Semi-anually=half-yearly

• $1782

• $1894

• $1900

• $2118

What will be the final amount if $500 is deposited in a bank at 3% interest (compounding monthly) for 5 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $540

• $580

• $620

• $660

What will be the final amount if $3000 is deposited in a bank at 2% interest (compounding annually) for 6 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $3240

• $3378

• $3480

• $3600

What will be the final amount if $2500 is deposited in a bank at 7% interest (compounding semi-annually) for 5 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $2750

• $3000

• $3250

• $3526

What will be the final amount if $4000 is deposited in a bank at 1% interest (compounding monthly) for 3 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $4121

• $4240

• $4360

• $4480

What will be the final amount if $600 is deposited in a bank at 2% interest (compounding monthly) for 4 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $650

• $672

• $696

• $720

What will be the final amount if $3500 is deposited in a bank at 3% interest (compounding quarterly) for 2 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $3642

• $3715

• $3780

• $3850

What will be the final amount if $800 is deposited in a bank at 4% interest (compounding annually) for 5 years?

Hint: Use the formula: A = P (1 + r/n)^n.t

• $1021

• $880

• $920

• $973