Compound Interest Questions part 2

Dwayne

1) Calculate the compound interest on investing $975 for 2 years at 9% per annum

 

2) Calculate the compound interest on investing $1145 for 3 years at 14% per annum

 

3) Calculate the compound interest on investing $14,650 for 4 years at 12% per annum

 

4) Calculate the compound interest earned when $17,275 is invested for 5 years at 10% per annum

 

5) Which is the better investment?

a) $1525 at 7% simple interest for 3 years

b) $1525 at 6% compound interest for 3 years

 

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