compound interest worksheets\ncalculate the total amount of the investment or total paid in a loan in the…

compound interest worksheets\ncalculate the total amount of the investment or total paid in a loan in the following situations:\n1.) you invested $52,400 at 6% compounded annually for 5 years. what is your total return on this investment?\nanswer:\n2.) you borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi - annually. what is the total you will pay back?\nanswer:\n3.) your 2 year investment of $5,300 earns 2.9% and is compounded annually. what will your total return be?\nanswer:\n4.) you invested $100 at 8.2% which is compounded annually for 7 years. how much will your $100. be worth in 7 years?\nanswer:\n5.) your investment of $18,100 at 13.6% compounded quarterly for 7 1/2 years will be worth how much?\nanswer:\n6.) you invested your allowance of $270 which gets 15% compounded annually for 3 years. how much will you have in 3 years?\nanswer:\n7.) you gave your friend a short term 2 year loan of $43,000 at 3% compounded annually. what will be your total return?\nanswer:\n8.) your investment of $1,200 gets 5.1% and is compounded semi annually for 7 1/2 years. what will your $1,200. be worth at the end of the term?\nanswer:\n9.) you borrowed $95 for 1 year at 5.2% interest that is compounded semi annually. what will you pay back in full?\nanswer:\n10.) your 6 and 2/3 year investment of $1,450 at 5.4% compounded monthly brought you a grand total of?\nanswer:

compound interest worksheets\ncalculate the total amount of the investment or total paid in a loan in the following situations:\n1.) you invested $52,400 at 6% compounded annually for 5 years. what is your total return on this investment?\nanswer:\n2.) you borrowed $10,400 for 4 years at 12.7% and the interest is compounded semi - annually. what is the total you will pay back?\nanswer:\n3.) your 2 year investment of $5,300 earns 2.9% and is compounded annually. what will your total return be?\nanswer:\n4.) you invested $100 at 8.2% which is compounded annually for 7 years. how much will your $100. be worth in 7 years?\nanswer:\n5.) your investment of $18,100 at 13.6% compounded quarterly for 7 1/2 years will be worth how much?\nanswer:\n6.) you invested your allowance of $270 which gets 15% compounded annually for 3 years. how much will you have in 3 years?\nanswer:\n7.) you gave your friend a short term 2 year loan of $43,000 at 3% compounded annually. what will be your total return?\nanswer:\n8.) your investment of $1,200 gets 5.1% and is compounded semi annually for 7 1/2 years. what will your $1,200. be worth at the end of the term?\nanswer:\n9.) you borrowed $95 for 1 year at 5.2% interest that is compounded semi annually. what will you pay back in full?\nanswer:\n10.) your 6 and 2/3 year investment of $1,450 at 5.4% compounded monthly brought you a grand total of?\nanswer:

Answer

Explanation:

Step1: Identify compound - interest formula

The compound - interest formula is $A = P(1+\frac{r}{n})^{nt}$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal), $n$ is the number of times interest is compounded per year, and $t$ is the number of years. Here, $P = 52400$, $r=0.06$, $n = 1$, $t = 5$. $A=52400(1 + 0.06)^{5}$

Step2: Calculate the value inside the parentheses

$1+0.06=1.06$

Step3: Calculate the exponent

$(1.06)^{5}=1.06\times1.06\times1.06\times1.06\times1.06\approx1.3382255776$

Step4: Multiply by the principal

$A = 52400\times1.3382255776\approx70123.02$

Answer:

$$70123.02$

Explanation:

Step1: Identify values for the formula

$P = 10400$, $r = 0.127$, $n=2$ (semi - annual compounding), $t = 4$. $A=10400(1+\frac{0.127}{2})^{2\times4}$

Step2: Calculate the value inside the parentheses

$\frac{0.127}{2}=0.0635$, $1 + 0.0635=1.0635$

Step3: Calculate the exponent

$2\times4 = 8$, $(1.0635)^{8}\approx1.614727$

Step4: Multiply by the principal

$A=10400\times1.614727\approx16893.16$

Answer:

$$16893.16$

Explanation:

Step1: Identify values for the formula

$P = 5300$, $r = 0.029$, $n = 1$, $t = 2$. $A=5300(1 + 0.029)^{2}$

Step2: Calculate the value inside the parentheses

$1+0.029=1.029$

Step3: Calculate the exponent

$(1.029)^{2}=1.029\times1.029 = 1.058841$

Step4: Multiply by the principal

$A=5300\times1.058841\approx5611.86$

Answer:

$$5611.86$

Explanation:

Step1: Identify values for the formula

$P = 100$, $r = 0.082$, $n = 1$, $t = 7$. $A=100(1 + 0.082)^{7}$

Step2: Calculate the value inside the parentheses

$1+0.082=1.082$

Step3: Calculate the exponent

$(1.082)^{7}\approx1.744928$

Step4: Multiply by the principal

$A=100\times1.744928\approx174.49$

Answer:

$$174.49$

Explanation:

Step1: Identify values for the formula

$P = 18100$, $r = 0.136$, $n = 4$ (quarterly compounding), $t=7.5$. $A=18100(1+\frac{0.136}{4})^{4\times7.5}$

Step2: Calculate the value inside the parentheses

$\frac{0.136}{4}=0.034$, $1+0.034 = 1.034$

Step3: Calculate the exponent

$4\times7.5=30$, $(1.034)^{30}\approx2.617977$

Step4: Multiply by the principal

$A=18100\times2.617977\approx47385.38$

Answer:

$$47385.38$

Explanation:

Step1: Identify values for the formula

$P = 270$, $r = 0.15$, $n = 1$, $t = 3$. $A=270(1 + 0.15)^{3}$

Step2: Calculate the value inside the parentheses

$1+0.15=1.15$

Step3: Calculate the exponent

$(1.15)^{3}=1.15\times1.15\times1.15 = 1.520875$

Step4: Multiply by the principal

$A=270\times1.520875\approx410.64$

Answer:

$$410.64$

Explanation:

Step1: Identify values for the formula

$P = 43000$, $r = 0.03$, $n = 1$, $t = 2$. $A=43000(1 + 0.03)^{2}$

Step2: Calculate the value inside the parentheses

$1+0.03=1.03$

Step3: Calculate the exponent

$(1.03)^{2}=1.03\times1.03 = 1.0609$

Step4: Multiply by the principal

$A=43000\times1.0609\approx45618.7$

Answer:

$$45618.7$

Explanation:

Step1: Identify values for the formula

$P = 1200$, $r = 0.051$, $n = 2$ (semi - annual compounding), $t = 7.5$. $A=1200(1+\frac{0.051}{2})^{2\times7.5}$

Step2: Calculate the value inside the parentheses

$\frac{0.051}{2}=0.0255$, $1+0.0255=1.0255$

Step3: Calculate the exponent

$2\times7.5 = 15$, $(1.0255)^{15}\approx1.459977$

Step4: Multiply by the principal

$A=1200\times1.459977\approx1751.97$

Answer:

$$1751.97$

Explanation:

Step1: Identify values for the formula

$P = 95$, $r = 0.052$, $n = 2$ (semi - annual compounding), $t = 1$. $A=95(1+\frac{0.052}{2})^{2\times1}$

Step2: Calculate the value inside the parentheses

$\frac{0.052}{2}=0.026$, $1+0.026=1.026$

Step3: Calculate the exponent

$2\times1 = 2$, $(1.026)^{2}=1.026\times1.026=1.052676$

Step4: Multiply by the principal

$A=95\times1.052676\approx100.00$

Answer:

$$100.00$

Explanation:

Step1: Identify values for the formula

$P = 1450$, $r = 0.054$, $n = 12$ (monthly compounding), $t=\frac{20}{3}$ (since $6\frac{2}{3}=\frac{20}{3}$). $A=1450(1+\frac{0.054}{12})^{\ 12\times\frac{20}{3}}$

Step2: Calculate the value inside the parentheses

$\frac{0.054}{12}=0.0045$, $1+0.0045=1.0045$

Step3: Calculate the exponent

$12\times\frac{20}{3}=80$, $(1.0045)^{80}\approx1.432047$

Step4: Multiply by the principal

$A=1450\times1.432047\approx2076.47$

Answer:

$$2076.47$