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Compound Int Ws

The document contains 10 word problems involving compound interest calculations. The problems involve calculating the future value of investments given an initial amount, interest rate, compounding period, and time. They also involve calculating the total repayment amount on loans given the initial amount borrowed, interest rate, compounding period, and loan term.

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ClydeLisboa
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203 views

Compound Int Ws

The document contains 10 word problems involving compound interest calculations. The problems involve calculating the future value of investments given an initial amount, interest rate, compounding period, and time. They also involve calculating the total repayment amount on loans given the initial amount borrowed, interest rate, compounding period, and loan term.

Uploaded by

ClydeLisboa
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Accelerated Coordinate Algebra Name ___________________________________

Compound Interest Worksheet

1. $15,000 is deposited in an account that pays 3.5 % annual interest, compounded quarterly. Find the value
of the account after 10 years.

2. You borrowed $30,200 for 15 years  at  an  interest  rate  of  13.6%  and  it’s  compounded  semi annually.
How much in total will you have paid after 15 years?

3. You deposit $2000 in an account that earns 5% annual interest. Find the balance in the account at the end
of 2 years if the account is compounded monthly.

4. You deposit $30,000 in an account that earns 5 % interest, compounded annually. Find the balance in the
account at the end of 5 years, at the end of 10 years, and at the end of 20 years.

5. Your investment of $18,100 at 13.6% compounded quarterly for 7 years and 6 months will be worth
how much?
6. You deposit $2000 in an account that earns 2.5% annual interest. Find the balance in the account at
the end of 4 years if it is compounded daily.

7. You gave your friend a short term 2 year loan of $43,000 at 3% compounded annually. What will be
your total return?

8. $50,000 is deposited in an account that pays 6.5 % annual interest, compounded quarterly. Find the value
of the account after 2 years, 5 years, 10 years, and 15 years,

9. You borrowed $59,000 for 6 years at 11% which was compounded semi-annually. What total will you
pay back?

10. $6500 is deposited in an account that pays 5.5 % annual interest. Compare the value of the account if you
compound semi-annually and quarterly. Find the value of the account after 10 years, after 15 years, and after
20 years for both.

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