Simple and Compound Interest Game- Harmony Cusack Maths 2
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Can you take the snake to the correct answers using either the simple or compound formula?
Topics of this game:
- Samantha invests $3000 for 4 years at 6% p.a. simple interest paid yearly, How much interest will she receive in the first year?
- Calculate the amount of simple interest paid on an investment of $12 000 at 10%simple interest per annum for 3 years
- Find the amount owed on a loan of $60 000 at 3.5% per annum simple interest at the end of 3 years and 6 months
- Calculate the principal that would need to be invested in order to earn $4 300 at an interest rate of 3% p.a. for 4 years.
- Alison borrowed $60 000 for 5 years at 12% p.a. interest compounding monthly. What is the amount owed after the 4 years?
- Use the compound interest formula to calculate the amount of a fixed-term investment of $3500 over 7 years at 6.2% p.a. interest compounding quarterly.
- Shailyn's investment of $4000 is compounded at 8.4% p.a. over 5 years. Determine the amount she will have after 6 years if the interest is paid monthly.
- Emma opened a savings account and deposited $200.00 as principal. The account earns 12% interest, compounded annually. What is the balance after 6 years?
- Ben puts $700.00 into an account to use for school expenses. The account earns 5% interest, compounded annually. How much will be in the account after 4 years?
- Sarah has $20,000 in a savings account. The interest rate is 2% per year and is not compounded. To the nearest dollar, how much will she have in 5 years?
