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Practice 4

The document provides 30 examples of simple interest and 10 examples of compound interest calculations. For the simple interest examples, the principal, interest rate, and time period are given and the task is to calculate the interest or ending balance. For the compound interest examples, the principal, interest rate, compounding period, time period and task of calculating the ending balance are provided.

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37 views

Practice 4

The document provides 30 examples of simple interest and 10 examples of compound interest calculations. For the simple interest examples, the principal, interest rate, and time period are given and the task is to calculate the interest or ending balance. For the compound interest examples, the principal, interest rate, compounding period, time period and task of calculating the ending balance are provided.

Uploaded by

CPTO
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SIMPLE INTEREST
1) $34,100 at 4% for 3 years
2) $210 at 8% for 7 years
3) $4,000 at 3% for 4 years
4) $20,600 at 8% for 2 years
5) $14,000 at 6% for 9 years
6) $2,300 at 7% for 9 years
7) $43,800 at 4.8% for 2 years
8) $35,800 at 8.2% for 3 years
9) $7,400 at 10.5% for 1/4 years
10) $1,900 at 5.9% for 2 3/4 years
11) £300 is deposited in a bank paying 2% simple interest per annum. How much
interest will have been paid after 3 years?
12) £1100 is deposited in a bank paying 0.75% simple interest per annum.
How much interest will have been paid after 3 years?£
13) £2100 is deposited in a bank paying 1.5% simple interest per annum.
How much interest will have been paid after 3 years?£
14) £2900 is deposited in a bank paying 3.75% simple interest per annum.
How much interest will have been paid after 4 years?£
15) £1800 is deposited in a bank paying 10.25% simple interest per annum.
How much interest will have been paid after 11 years?£
16) £5100 is deposited in a bank paying 4% simple interest per annum.
How much interest will have been paid after 3 years?£
17) £2900 is deposited in a bank paying 9.75% simple interest per annum.
How much interest will have been paid after 5 years?£
18) £7900 is deposited in a bank paying 9.5% simple interest per annum.
How much interest will have been paid after 12 years?£
19) £1500 is deposited in a bank paying 1.5% simple interest per annum.
How much interest will have been paid after 10 years?£
20) £2800 is deposited in a bank paying 16.75% simple interest per annum.
How much interest will have been paid after 12 years?£
21) Ryan deposited $2,000 in a saving account at the interest rate at 4% per year. How
much simple interest will he earn in 5 years?
22) Garcia borrowed $4,000 from his cousin Susan at the rate of 8% per annum. He
repaid the amount after two years. How much did he repay?
23) Tracy put $3,500 into an investment yielding 4.5% annual interest. She left the
money for 8 years. How much interest does she get in those 8 years?
2

24) Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns
$1,125 in interest?
25) Jerry invested $1500 in an account that paid him 8.25% simple interest, what will the
balance of his account be after 6 years?
26) Mr Peterson wrote a check of $7,820 to pay off a loan, which was given to him at a
rate of 5% simple interest for 3 years. How much money did he borrow originally?
27) If $3,840 is invested in an account at 5% annual simple interest, how long will it take
the account balance to grow to $4,800?
28) Principle (p) = 1500, Rate ( r )= 7%, Time (t) = 8 years. Calculate the Interest.
29) Jack deposited $1400 in his bank account. After 3 years, the account is worth $1,694.
Find the simple interest rate the account earned.
30) Principle = 360, Interest = $17.55, Time = 9 months. Calculate the Interest Rate.

COMPOUND INTEREST
1) $7,300 at 7% compounded semi-annually for 3 years. Calculate the end balance of
the investment.

2) $1,030 at 4% compounded semi-annually for 2 years. Calculate the end balance of


the investment.
3) $18,000 at 9% compounded semi-annually for 6 years. Calculate the end balance.

4) $1,500 at 7% compounded annually for 3 years. Calculate the end balance.

5) $1,240 at 8% compounded annually for 2 years. Calculate the end balance.

6) $55,000 at 16% compounded semi-annually for 2 years. Calculate the end balance.

7) $28,600 at 7.9% compounded semi-annually for 2 years. Calculate the end balance.

8) $21,000 at 13.6% compounded quarterly for 4 years. Calculate the end balance.

9) $12,700 at 8.8% compounded semi-annually for 1 year. Calculate the end balance.

10) $130 at 9.4% compounded quarterly for 2 years. Calculate the end balance.

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