Compound interest calculations

12 questions

1. What is the amount of simple 5% interest earned on an investment of £400 over 8 years?
2. If I invest £800 over 6 years at 1.6% interest, I have £876.80. Is this simple or compound interest?
3. What is the amount of simple 1.5% interest earned on an investment of £500 over 9 years?
4. If I invest £900 over 6 years at 1.6% interest, I have £989.93. Is this simple or compound interest?
5. What is the amount of compound 3% interest earned on an investment of £1500 over 3 years?
6. What is the amount of simple 3% interest earned on an investment of £10 000 over 4 years?
7. The cost of a game increases by 4% each month for 3 months. It now costs £44.99. What was the original price?
8. The cost of a phone contract increases by 3% each month for 3 months. It now costs £60.10. What was the original price?
9. The cost of a phone contract increases by 1.6% each month for 13 months. It now costs £59. What was the original price?
10. The cost of a streaming service increases by 1.7% each month for 16 months. It now costs £16.50. What was the original price?
11. The cost of a music subscription increases by 1.9% each month for 8 months. It now costs £11.16. What was the original price?
12. For an investment of £9.60 earning 1.9% interest per year for 8 years, how much more money would be gained using compound rather than simple interest?

License: OGL