Learn and Practice Free Compound Interest Set 8 questions
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If you deposit $8000 into an account paying 7% annual interest compounded quarterly, how
long until there is $12400 in the account?
Option 1: 2.3
Option 2: 6.3
Option 3: 4.3
Option 4: 5.3
Option 5:
If you deposit $5000 into an account paying 6% annual interest compounded monthly, how
long until there is $8000 in the account?
Option 1: 6.9
Option 2: 7.9
Option 3: 8.9
Option 4: 9.9
Option 5:
Other things being equal, would an investor prefer an interest rate of 10.5% compounded monthly or 11% compounded annually for a two-year investment?
Option 1: 1232
Option 2: 1243
Option 3: 1254
Option 4: 1262
Option 5:
Find the effective rate of interest for an investment that earns 5 1/2% per year, compounded continuously
Option 1: 5.65%
Option 2: 5.75%
Option 3: 5.85%
Option 4: 5.95%
Option 5:
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time
Option 1: Rs.51.25
Option 2: Rs.61.25
Option 3: Rs.51
Option 4: Rs.42
Option 5:
Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
Option 1: Rs.1550
Option 2: Rs.1650
Option 3: Rs.1750
Option 4: Rs.1850
Option 5:
If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200, find the compound interest on the same sum for the same period at the same rate.
Option 1: Rs.1251
Option 2: Rs.1261
Option 3: Rs.1271
Option 4: Rs.1281
Option 5:
The population of a rural region is expected to fall by 2% per year for the next 10 years. If the region’s current population is 100,000, what is the expected population 10 years from now?
Option 1: 81707
Option 2: 91707
Option 3: 61707
Option 4: 71707
Option 5:
Mr. and Mrs. Espedido’s property taxes, amounting to $2450, are due on July 1.What amount should the city accept if the taxes are paid eight months in advance and the city can earn 6% compounded monthly on surplus funds?
Option 1: 2354.17
Option 2: 2354
Option 3: 2376
Option 4: 2389
Option 5:
Find the compound interest on Rs. 16,000 at 20% per annum for 9 months, compounded quarterly
Option 1: 2422
Option 2: 2522
Option 3: 2622
Option 4: 2722
Option 5:
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