Learn and Practice Free Compound Interest Set 10 questions
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Two payments of $10,000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?
Option 1: 19296
Option 2: 19396
Option 3: 19496
Option 4: 19596
Option 5:
Kashundra Jones plans to make a lump sum deposit so that she can withdraw $3,000 at the end of each quarter for 10 years. Find the lump sum if the money earns 10% per year compounded quarterly
Option 1: 75263.64
Option 2: 76345
Option 3: 76389
Option 4: 56897
Option 5:
The difference between simple and compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is re.1. the sum is
Option 1: 625
Option 2: 630
Option 3: 640
Option 4: 650
Option 5:
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
Option 1: Rs.51.25
Option 2: Rs.52
Option 3: Rs.53
Option 4: Rs.54
Option 5:
Find the finance charge for an average daily balance of $8431.10 with monthly interest rate of 1.4%
Option 1: 98.04
Option 2: 88.04
Option 3: 68.04
Option 4: 118.04
Option 5:
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Option 1: 2
Option 2: 3
Option 3: 4
Option 4: 5
Option 5:
Assume that money can be invested at 8% compounded quarterly,which is larger,$2500 now or $3800 in 5 years?
Option 1: 1557.29
Option 2: 2557.29
Option 3: 2567
Option 4: 2457
Option 5:
Calculate the effective interest rate compounded quarterly of a 13% annual rate.
Option 1: 13.65%
Option 2: 14.665%
Option 3: 15.65%
Option 4: 16.65%
Option 5:
Calculate the effective interest rate of a 10% annual rate compounded continuously.
Option 1: 9.52%
Option 2: 10.52%
Option 3: 11.52%
Option 4: 12.52%
Option 5:
An amount of 5,000 is invested at a fixed rate of 8 per cent per annum. What amount will be the value of the investment in five years time, if the interest is compounded annually
Option 1: 734664
Option 2: 8346
Option 3: 3456
Option 4: 4567
Option 5:
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