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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the principal amount if a total of $1,100 is returned after one year at an interest rate of 10%?
💡 Hint: Reverse calculate using the interest formula.
Question 2
Easy
If $500 is invested at a 5% compound interest rate for 1 year, what will be the return?
💡 Hint: Calculate using A = P(1 + r).
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the formula for calculating the total amount including compound interest?
- A = P(1 + r/n)^(nt)
- A = P + I
- A = P(1 + r)
💡 Hint: Remember the components related to principal, rate, and time.
Question 2
True or False: The principal amount changes each year when calculating compound interest.
- True
- False
💡 Hint: Think about how interest compounds.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Classify a scenario where an investment of $10,000 grows to $14,693 in 5 years. Calculate the annual compound interest rate.
💡 Hint: Isolate the interest rate in your calculations.
Question 2
You have $5,000 invested at a compound interest rate of 7% per annum. Calculate how long it will take to double your investment.
💡 Hint: How do the rules of compounding help us estimate time needed?
Challenge and get performance evaluation