Checking and securing understanding of compound interest calculations

12 questions

1. When money is added to savings or loans it is called...
2. 12% of 800 is ___. You may use a calculator.
3. 800 increased by 12% is __________. You may use a calculator.
4. 7\times7\times7\times7\times7 simplifies to...
5. Which of the below will affect an increase of 2.5%?
6. An amount increased by 20% then increased by 10% will experience an overall increase of ___%
7. £250+(0.02\times250)+(0.02\times250)+(0.02\times250) is an example of a __________ interest calculation.
8. £250\times1.02^3 is an example of a __________ interest calculation.
9. £400 is invested at a rate of 4.2% interest for 5 years. What multiplier would we use in a compound interest calculation?
10. £400 is invested at a rate of 4.2% interest for 5 years. The values at the end of each year will form __________ sequence.
11. £400 is invested at a rate of 4.2% interest for 5 years. What is the value of the investment at the end of the 5 years? £___
12. £500 is put into a savings account at a rate of 4% compound interest p.a. After how many years will the investment reach £1000? ___

License: OGL