Worksheet on Compound Interest with Growing Principal

Practice the questions given in the worksheet on compound interest with growing principal.


1. David invested a sum of $ 14000 for two years at a compound interest rate of 5% per annum. Find the interest on the sum for 2 years.

2. Shelly invests a sum of $ 5,600 at a compound interest rate of 14 % per annum for 2 years.

(i) Find the interest for the first year.

(ii) Find the amount at the end of the first year.

(iii) Find the interest for the second year, correct to the nearest dollar.

3. Derek borrows $ 8000 at 10% compound interest. If he repays $ 1500 at the end of each year, find the amount of loan outstanding at the beginning of the third year.

4. A sum of $ 10,000 is invested for two years at a compound interest rate of 5% per annum.

(i) Find the principal for the second year.

(ii) Find the amount and the interest on the sum for two years.


5. A sum of $ 8,000 becomes $ 8,400 in one year at a certain interest rate per annum. Find the compound interest on the sum for two years at the same rate of interest.

6. If the rate of compound interest for the first and second year be 4 % and 5 % respectively, find the compound interest on $ 25000 for 2-years.

7. A sum of $ 2400is borrowed at a half-yearly compound interest rate 6 1/4 %.

(i) Find the amount of the debt at the end of one year.

(ii) Find the amount of money required to clear off the debt after 1 ½ years.


8. A man invest $ 1000 at a compound interest rate of 10% per annum, compounded semi-annually find the compound interest for one year.


Answers for the worksheet on compound interest with growing principal are given below.


Answers:


1. $ 1,435

2. (i) $ 784

(ii) $ 6,384

(iii) $ 894


3. $ 6530

4. (i) $ 10,500

(ii) $ 11,025 and $ 1,025


5. $ 820

6. $ 2300

7. (i) $ 2,709.38

(ii) $ 2,878.72


8. $ 10,250

Compound Interest

Compound Interest

Compound Interest with Growing Principal

Compound Interest with Periodic Deductions

Compound Interest by Using Formula

Problems on Compound Interest

Practice Test on Compound Interest


Compound Interest - Worksheet

Worksheet on Compound Interest



Math Home Work Sheets

8th Grade Math Practice 

From Worksheet on Compound Interest with Growing Principal to HOME PAGE


New! Comments

Have your say about what you just read! Leave me a comment in the box below. Ask a Question or Answer a Question.



Didn't find what you were looking for? Or want to know more information about Math Only Math. Use this Google Search to find what you need.



Share this page: What’s this?

Recent Articles

  1. Properties of Multiplication | Multiplicative Identity | Whole Numbers

    Mar 29, 24 09:02 AM

    Properties of Multiplication of Whole Numbers
    There are six properties of multiplication of whole numbers that will help to solve the problems easily. The six properties of multiplication are Closure Property, Commutative Property, Zero Property…

    Read More

  2. Multiplication of a Number by a 3-Digit Number |3-Digit Multiplication

    Mar 28, 24 06:33 PM

    Multiplying by 3-Digit Number
    In multiplication of a number by a 3-digit number are explained here step by step. Consider the following examples on multiplication of a number by a 3-digit number: 1. Find the product of 36 × 137

    Read More

  3. Multiply a Number by a 2-Digit Number | Multiplying 2-Digit by 2-Digit

    Mar 27, 24 05:21 PM

    Multiply 2-Digit Numbers by a 2-Digit Numbers
    How to multiply a number by a 2-digit number? We shall revise here to multiply 2-digit and 3-digit numbers by a 2-digit number (multiplier) as well as learn another procedure for the multiplication of…

    Read More

  4. Multiplication by 1-digit Number | Multiplying 1-Digit by 4-Digit

    Mar 26, 24 04:14 PM

    Multiplication by 1-digit Number
    How to Multiply by a 1-Digit Number We will learn how to multiply any number by a one-digit number. Multiply 2154 and 4. Solution: Step I: Arrange the numbers vertically. Step II: First multiply the d…

    Read More

  5. Multiplying 3-Digit Number by 1-Digit Number | Three-Digit Multiplicat

    Mar 25, 24 05:36 PM

    Multiplying 3-Digit Number by 1-Digit Number
    Here we will learn multiplying 3-digit number by 1-digit number. In two different ways we will learn to multiply a two-digit number by a one-digit number. 1. Multiply 201 by 3 Step I: Arrange the numb…

    Read More