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India
Class VIII

Compound Interest - Compounding Variations

Interactive practice questions

Valentina's investment of $\$8000$$8000 earns interest at $2%$2% p.a., compounded semiannually over $2$2 years. Answer the following questions by repeated multiplication.

a

What is the value of the investment after $2$2 years, to the nearest cent?

b

What is the amount of interest earned to the nearest cent?

Easy
3min

A $\$1610$$1610 investment earns interest at $4.5%$4.5% p.a. compounded quarterly over $10$10 years.

Use the compound interest formula to calculate the value of this investment to the nearest cent.

Easy
2min

A $\$2700$$2700 investment earns interest at $4.7%$4.7% p.a. compounded semiannually over $11$11 years. Use the compound interest formula to calculate the value of this investment to the nearest cent.

Easy
1min

A $\$3400$$3400 investment earns interest at $2%$2% p.a. compounded monthly over $3$3 years. Use the compound interest formula to calculate the value of this investment to the nearest cent.

Easy
1min
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Outcomes

8.RP.RP.2

Difference between simple and compound interest (compounded yearly up to 3 years or half-yearly up to 3 steps only), Arriving at the formula for compound interest through patterns and using it for simple problems.

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