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Compound Interest Worksheet
Compound Interest Worksheet
Compound Interest Worksheet
Now it is your turn to try a few problems on your own. Work on each of the problems below and make
sure to present the solutions for each of them. (In uploading your work via LMS, please follow this
format: GIGANTANA-M2CompoundInterestWorksheet
Problem 1: If you deposit Php4,500 at 5% annual interest compounded quarterly, how much money
will be in the account after 10 years?
( )
nt
r
A=P 1+
n
( )
(4 )(10)
0.05
A=4,500 1+
4
A=7,396.29
Problem 2: If you deposit Php4,000 into an account paying 9% annual interest compounded monthly,
how long until there is Php10,000 in the account?
t=
( rn )
log 1+
( )
log
10,000
4,000
log (1+
12 )
0.09
t=
12
122.6296724
t=
12
t=10.2
Problem 3: If you deposit Php2,500 into an account paying 11% annual interest
compounded quarterly, how long until there is Php4,500 in the account?
t=
( rn )
log 1+
n
log( )
4,500
2,500
log (1+
4 )
0.11
t=
4
21.66662507
t=
4
t=5.4
2 | General Mathematics
Problem 4: How much money would you need to deposit today at 5.5% annual interest
compounded monthly to have Php50,000 in the account after 10 years?
Problem 5: If you deposit Php6,000 into an account paying 6.5% annual interest
compounded quarterly, how long until there is Php12,600 in the account?
n
log( )
12,600
6,000
log (1+
4 )
0.065
t=
4
46.0276548
t=
4
t=11.5
Problem 6: If you deposit Php5,000 into an account paying 8.25% annual interest compounded semi-
annually, how long until there is Php9,350 in the account?
log ( PA )
t=
( rn )
log 1+
n
log ( 9,350
5,000 )
t=
(
0.0825
log 1+
2 )
2
15.48512579
t=
2
t=7.7
3 | General Mathematics