Terms & Formulas
In the simple interest formula, what does 'P' stand for ?
Ruby.
Principle
What is the simple interest earned if $2000 is put into an account paying 8% p.a. for 3 years?
Luke.
$480
What is the future value of an investment if $7,500 is invested for 5 years at 4% interest compounded yearly.
Lincoln.
$9124.90
A new car is purchased for $35,000. It depreciates in value at a rate of 22%. What is the salvage value of the car after 4 years?
Lily.
$12955.27
What amount needs to be invested at 7% p.a. to have $15,000 in 8 years
Lincoln.
$8730
What is 14% as a decimal?
Lincoln
0.14
What is the simple interest earned if $5000 is put into an account paying 7% p.a. for 7 years.
Agum.
$2450
What is the future value of an investment if $20,000 is invested for 2 years at 28% compounded yearly.
Angus P.
$32,768
A new book is purchased for $75. It depreciates in value at a rate of 5% per year. Calculate the salvage value of the book for 4 years.
Angus R.
$61.09
Calculate the amount that must be invested at 6% p.a. compounded annually to have $5000 at the end of 4 years.
Emma.
$3960.47
What does n stand for?
Luke.
n = number of time periods
Calculate the amount to which $9000 will grow in 3 years if invested at 6.5% p.a. simple interest
Lily.
$10755
Calculate the future value if $8500 is invested for 5 years at 3% p.a. where interest is compounded monthly.
Lily.
$9873.74
Anew dirt bike is bought for $15,800. It depreciates at a rate of 9% per year. What is salvage value after 4 years?
Angus P.
$10,834.84
What amount needs to be invested at 9% p.a. to have $400,000 in 2 years?
Angus R.
$336,672
What is 7.5% of $1500
Agum.
$112.50
What is the simple interest earned if $9000 is put into an account paying 8% p.a. for 3 years?
Angus P.
$2160
What is the future value of an investment if $11,250 is invested for 6 years at 9% p.a. interest compounded monthly.
Lincoln.
$19,266.21
A new car is purchased for $187,365,189.69. It depreciates in value at a rate of 69% per year. What is the salvage value after 10 years?
Jesse and Tom.
$1535.70
Calculate the amount that must be invested at 9% p.a. interest compounded annually to have $4000 at the end of 8 years.
Luke.
$2007.47
What is 12% of 8000
Lincoln.
960
Calculate the amount to which $7000 will grow in 3 years at 6.5% p.a. using the simple interest formula. Total is when you add to the initial amount.
Emma.
$8365
Calculate the future value if $6,900,420 is invested for 5 years at 82.9% p.a. where interest is compounded monthly.
Jesse and Tom.
$379,812,339.80
A new car is purchased for $46,000. It depreciates in value at a rate of 23% per year. By what amount has the car depreciated in value after 6 years?
Emma.
$36412.57
Calculate the amount that must be invested at 7% p.a. compounded quarterly to have $9000 at the end of 5 years.
Lily.
$6361.42