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Simple and Compound Interest Questions

1. The document contains simple and compound interest questions to calculate interest earned or paid on various investments and loans over different periods of time and interest rates. 2. The simple interest questions provide the principal, interest rate, and time period to calculate the interest earned or paid. 3. The compound interest questions similarly provide the principal, interest rate, time period, and compounding frequency to calculate the future value of investments or total repayment amount of loans.

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Josh LeBlanc
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882 views4 pages

Simple and Compound Interest Questions

1. The document contains simple and compound interest questions to calculate interest earned or paid on various investments and loans over different periods of time and interest rates. 2. The simple interest questions provide the principal, interest rate, and time period to calculate the interest earned or paid. 3. The compound interest questions similarly provide the principal, interest rate, time period, and compounding frequency to calculate the future value of investments or total repayment amount of loans.

Uploaded by

Josh LeBlanc
Copyright
© Attribution Non-Commercial (BY-NC)
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 Questions Calculate the simple interest for each question below.

Remember the formula for simple interest is I=prt 1. How much interest does a $318 investment earn at 9% over one year?

2. If you borrow $675 for six years at an interest rate of 10%, how much interest will you pay?

3. If you borrow $421 for nine years at an interest rate of 4%, how much interest will you pay?

4. If the balance at the end of eight years on an investment of $630 that has been invested at a rate of 9% is $1,083.60, how much was the interest?

5. If you borrow $225 for eight years at an interest rate of 6%, how much interest will you pay?

6. If the balance at the end of eight years on an investment of $230 that has been invested at a rate of 3% is $285.20, how much was the interest.

7. How much interest does a $407 investment earn at 6% over seven years?

Compound Interest Questions Calculate the compund interest for each question below. Remember the formula for simple interest is B = p(1 + r)n 1.) Your 3 year investment of $20,000 received 5.2% interested compounded semi-annually. What is your total return?

2.) You borrowed $59,000 for 2 years at 11% which was compounded annually. What total will you pay back?

3.) Your allowance of $190 got 11% compounded monthly for 1 2/3 years. Whats it worth after the 1 2/3 years?

4.) Your 6 1/4 year investment of $40,000 at 14% compounded quarterly is worth how much.

5.) You borrowed $1,690 for 5 1/2 years a at 5.7% compounded semi-annually. What total will you pay back?

6.) Your $440 gets 5.8% compounded annually for 8 years. What will your $440. be worth in 8 years?

7.) Your $54,200 2 year car loan is at 15.1% compounded annually. What will you have paid for your car after 2 years?

8.) You invest $55 at 10% compounded annually for 3 years. How much will your investment be worth in 3 years?

9.) Your 8 year loan of $12,200 is at 5.3% compounded annually. How much will you have paid in total for your loan?

10.) You invest $1,900 at 4% and its compounded semi annually for 3 years. How much will your $1,900 be worth in 3 years?

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