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Compound - Interest Worksheets

The document provides 6 practice problems involving calculating compound interest and growth/decay rates over multiple years. The problems cover topics like calculating investment growth at interest rates over 3-4 years, calculating depreciation of assets like cars and determining their value after several years, calculating population growth rates at a given percentage each year, and calculating the time taken for something like hedging to grow to a given height if increasing at a set percentage each year. A second set of 5 similar problems involving compound interest calculations is also provided.

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137 views3 pages

Compound - Interest Worksheets

The document provides 6 practice problems involving calculating compound interest and growth/decay rates over multiple years. The problems cover topics like calculating investment growth at interest rates over 3-4 years, calculating depreciation of assets like cars and determining their value after several years, calculating population growth rates at a given percentage each year, and calculating the time taken for something like hedging to grow to a given height if increasing at a set percentage each year. A second set of 5 similar problems involving compound interest calculations is also provided.

Uploaded by

wjsjds
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Year:10i Mathematics Holiday Homework

Compound Interest/Growth and Decay…


LO: To be able to calculate compound interest and solve practical problems involving
compound interest.

1) Elizabeth invests £400 in a savings account. The account pays compound interest at
6% each year. How much will she have in the account after three years? [3 marks]

2) Jalin invested £3,200 in savings account for three years. He was paid compound
interest at a rate of 3.5% per annum. Work out how much was in the account after
three years. [3 marks]

3) Linda bought a new car for £18,000. Each year, the car depreciated in value by 15%.
Work out the value of the car after four years. [3 marks]

4) A baby octopus increases its body weight by 5% each day for the first month of its
life. In a safe ocean zoo, a baby octopus was born weighing 10g. What was its
weight after 1 week? [3 marks]

5) The population of a small country, Yebon, was only 46,000 in 2001, but it steadily
increased by about 13% each year during the 2000s.
a. Calculate the population in 2006. [3 marks]

b. If the population keeps growing at this rate, when will it be half a million?
[3 marks]
6) A certain type of conifer hedging increases in height by 17% each year for the first
20 years. When I bought some of this hedging, it was all about 50cm tall. How long
will it take to grow 3m tall? [3 marks]

Year 10 Maths Intervention: Compound Interest/Growth and Decay…


LO: To be able to calculate compound interest and solve practical problems involving
compound interest.

1) Raj invests £12,000 for four years at 10% per annum compound interest. Work out
the value of the investment at the end of four years. [2 marks]

2) Chris bought a lorry that had a value of £24,000. Each year the value of the lorry
depreciates by 15%.
a. Work out the value of the lorry at the end of four years. [2 marks]

b. Brian bought a new car for £12,000. Each year the value of the car depreciates
by 12%. Work out the value of the car at the end of five years. [2 marks]

3) Neil invests £5,800 at a compound interest rate of 6% p.a. At the end of n complete
years, the investment has grown to £6,907.89. Work out the value of n. [2 marks]

Choose some values of n and work out


the amount of investment after n years.

4) Daljit invests £1,500 on 1st January 2010, at a compound interest rate of r% per
annum. The value, £V, of this investment after n years is given by the formula:
V = 1500 x (1.065)n.
Work out what percentage would give a
a. Write down the value of r. [1 mark]
multiplier of 1.065.

b. Work out the value of Daljit’s investment after 10 years. [2 marks]


5) Terry buys a new vacuum cleaner for £350. The value of the machine depreciates by
25% each year.
Terry says, “4 x 25% = 100%, so, after four years the vacuum cleaner will have no
value.”
Explain why Terry is wrong. [2 marks]

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