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Compound Interest

The document is a math worksheet on compound interest with 6 questions. It asks the student to calculate the value of investments over various time periods ranging from 2 to 5 years where the interest rates compounded annually range from 3% to 7.5%. It also asks the student to determine the number of years an investment was held based on the ending value.

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50 views3 pages

Compound Interest

The document is a math worksheet on compound interest with 6 questions. It asks the student to calculate the value of investments over various time periods ranging from 2 to 5 years where the interest rates compounded annually range from 3% to 7.5%. It also asks the student to determine the number of years an investment was held based on the ending value.

Uploaded by

ookunola11.princetoncollege
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

COMPOUND

INTEREST
Name: _______________________
Total Marks: ___________

Q. Max Actual RAG


1 4
2 3
3 4
4 3
5 3
6 5

[Link] ©JustMaths 2013


Q1. Irfon invests £4000 for 3 years at 3% per annum compound interest.

Calculate the value of his investment, correct to the nearest penny, at the
end of the 3 years.

(4 Marks)

Q2. Tess invested £5000 at 4% compound interest for five years. How much was
the investment worth after five years?

(3 Marks)

Q3. Sian invests £7000 for 3 years at 4% per annum compound interest.

Find the compound interest earned in the 3 years.

(4 Marks)

Q4. Jaspal invests ￡2500 for 2 years at 7% per annum compound interest.

What is the value of his investment after 2 years?

(3 Mark)

[Link] ©JustMaths 2013


Q5. Aminata invested £2500 for n years in a savings account.

She was paid 3% per annum compound interest.

At the end of n years, Aminata has £2813.77 in the savings account.

Work out the value of n.

(3 Marks)

Q6. Toby invested £4500 for 2 years in a savings account. He was paid 4% per
annum compound interest.

a) How much did Toby have in his savings account after 2 years?

£ ..............................

Jaspir invested £2400 for n years in a savings account. He was paid 7.5% per
annum compound interest. At the end of the n years he had £3445.51 in the
savings account.

(b) Work out the value of n.

(5 Marks)

[Link] ©JustMaths 2013

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