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Exercise Interest

The document contains 30 problems involving calculating simple interest and 10 problems involving calculating compound interest on various principal amounts with different interest rates and time periods. The problems include calculating the total interest earned or the final balance for amounts deposited in savings accounts or invested at simple or compound interest rates.

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imlanglavang
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50 views

Exercise Interest

The document contains 30 problems involving calculating simple interest and 10 problems involving calculating compound interest on various principal amounts with different interest rates and time periods. The problems include calculating the total interest earned or the final balance for amounts deposited in savings accounts or invested at simple or compound interest rates.

Uploaded by

imlanglavang
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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INTEREST

Saturday, January 4, 2020

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?
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
2. $1,030 at 4% compounded semi-annually for 2 years
3. $18,000 at 9% compounded semi-annually for 6 years
4. $1,500 at 7% compounded annually for 3 years
5. $1,240 at 8% compounded annually for 2 years
6. $55,000 at 16% compounded semi-annually for 2 years
7. $28,600 at 7.9% compounded semi-annually for 2 years
8. $21,000 at 13.6% compounded quarterly for 4 years
9. $12,700 at 8.8% compounded semi-annually for 1 year
10. $130 at 9.4% compounded quarterly for 2 years

Exercise Page 1

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