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    Worksheet 2

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    momina2997
    The document is a math worksheet containing 10 practice questions about calculating simple and compound interest on various investments and loans over different periods of time. The questions cover topics like calculating total returns on investments compounded annually or quarterly, amounts owed on loans with interest compounded semi-annually, and determining ending balances based on starting amounts and interest rates compounded annually or monthly over periods of 1 to 7 years.

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    Worksheet 2

    Uploaded by

    momina2997
    94 views2 pages
    The document is a math worksheet containing 10 practice questions about calculating simple and compound interest on various investments and loans over different periods of time. The questions cover topics like calculating total returns on investments compounded annually or quarterly, amounts owed on loans with interest compounded semi-annually, and determining ending balances based on starting amounts and interest rates compounded annually or monthly over periods of 1 to 7 years.

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    The document is a math worksheet containing 10 practice questions about calculating simple and compound interest on various investments and loans over different periods of time. The questions cover topics like calculating total returns on investments compounded annually or quarterly, amounts owed on loans with interest compounded semi-annually, and determining ending balances based on starting amounts and interest rates compounded annually or monthly over periods of 1 to 7 years.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    94 views2 pages

    Worksheet 2

    Uploaded by

    momina2997
    The document is a math worksheet containing 10 practice questions about calculating simple and compound interest on various investments and loans over different periods of time. The questions cover topics like calculating total returns on investments compounded annually or quarterly, amounts owed on loans with interest compounded semi-annually, and determining ending balances based on starting amounts and interest rates compounded annually or monthly over periods of 1 to 7 years.

    Copyright:

    © All Rights Reserved
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    Extension Exam Practice Year 8 Maths Worksheet Date: 19 November 2023 SHOW WORKING OUT + CALCULATOR ALLOWED.

    1.) You invested $52,400 at 6% compounded annually for 5 years. What is your total return on this investment?

    2.) You borrowed $10,400 for 4 years at 12.7% and the interest is compounded semiannually. What is the total you will pay back?

    3.) Your 2 year investment of $5,300 earns 2.9% and is compounded annually. What will your total return be?

    4.) You invested $100 at 8.2% which is compounded annually for 7 years. How much will your $100. be worth in 7 years?

    5.) Your investment of $18,100 at 13.6% compounded quarterly for 71/2 years will be worth how much?

    6.) You invested your allowance of $270 which gets 15% compounded annually for 3 years. How much will you have in 3 years?

    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.) Your investment of $1,200 gets 5.1% and is compounded semi annually for 7 1/2 years. What will your $1,200. be worth at the end of the term?

    9.) You borrowed $95 for 1 year at 5.2% interest that is compounded semi annually. What will you pay back in full?

    10.) Your 6 and 2/3 year investment of $1,450 at 5.4% compounded monthly brought you a grand total of?

    Tong loaned Jody $50 for a month. He charged 5% simple interest for the month. How much did Jody have to pay Tong?

    2. Jessica’s grandparents gave her $2000 for college to put in a savings account until she starts college in four years. Her grandparents agreed to pay
    her an additional 7.5% simple interest on the $2000 for every year. How much extra money will her grandparents give her at the end of four years?

    3. David read an ad offering 8 3 4 % simple interest on accounts over $500 left for a minimum of 5 years. He has $500 and thinks this sounds like a
    great deal. How much money will he earn in the 5 years?
    4. Javier’s parents set an amount of money aside when he was born. They earned 4.5% simple interest on that money each year. When Javier was
    15, the account had a total of $1012.50 interest paid on it. How much did Javier’s parents set aside when he was born? 5. Kristina received $125 for
    her birthday. Her parents offered to pay her 3.5% simple interest per year if she would save it for at least one year. How much interest could Kristina
    earn?

    6. Kristina decided she would do better if she put her money in the bank, which paid 2.8% interest compounded annually. Was she right? 7. Suppose
    Jessica (from problem 2) had put her $2000 in the bank at 3.25% interest compounded annually. How much money would she have earned there at
    the end of 4 years? 8. Mai put $4250 in the bank at 4.4% interest compounded annually. How much was in her account after 7 years?

    9. What is the difference in the amount of money in the bank after five years if $2500 is invested at 3.2% interest compounded annually or at 2.9%
    interest compounded annually?

    10. Ronna was listening to her parents talking about what a good deal compounded interest was for a retirement account. She wondered how much
    money she would have if she invested $2000 at age 20 at 2.8% annual interest compounded quarterly (four times each year) and left it until she
    reached age 65. Determine what the value of the $2000 would become

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