Compound Interest Questions part 3

Dwayne

1) Calculate the compound interest on investing $1020 for 2 years at 7% per annum

 

2) Calculate the compound interest on investing $1320 for 3 years at 15% per annum

 

3) Calculate the compound interest on investing $15,225 for 4 years at 16% per annum

 

4) Calculate the compound interest earned when $18,550 is invested for 8 years at 15% per annum

 

5) Which is the better investment?

a) $1650 at 8% simple interest for 4 years

b) $1650 at 7% compound interest for 4 years

 

 

 

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