Middle Years
9.04 Applications of simple and compound interest
Interactive practice questions
A $\$2090$$2090 investment earns interest at $4.2%$4.2% p.a. compounded annually over $17$17 years. Use the compound interest formula to calculate the value of this investment to the nearest cent.
Easy
1min
Sally's investment of $\$8950$$8950 earns interest at $4%$4% p.a. compounded annually over $4$4 years .
What is the amount of interest earned to the nearest cent?
Easy
2min
What is the value of a $\$1330$$1330 brand new desk after $7$7 years when the annual inflation rate is $11%$11%? Round your answer to the nearest cent.
Medium
1min
What is the value of a wine collection, currently valued at $\$4790$$4790, after $10$10 years if its rate of appreciation is $9%$9% p.a.?
Medium
1min
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