6. Loans, Investments, & Annuities
Interactive practice questions
James invested $\$5000$$5000 at $3.9%$3.9% p.a. compounded daily.
a
Find the amount of interest earned in a year.
Write your answer to the nearest cent.
b
Find the effective annual interest rate as a percentage to two decimal places.
Easy
3min
Valentina's investment of $\$8020$$8020 earned interest at $4.6%$4.6% p.a. compounded semiannually.
Easy
3min
Luke invested $\$4180$$4180 at $4.3%$4.3% p.a. compounded quarterly.
Easy
2min
Neil invested $\$3500$$3500 at $4.3%$4.3% p.a. compounded daily.
Easy
4min
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