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Test your understanding with targeted questions related to the topic.
Question 1
Easy
Calculate the compound interest on a principal of $1000 at a rate of 5% for 1 year.
π‘ Hint: Use the formula A = P(1 + R/100)^n.
Question 2
Easy
What is the total amount after 2 years on a principal of $2000 at 10% annually?
π‘ Hint: You need to find A using the compound interest formula.
Practice 4 more questions and get performance evaluation
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the formula for compound interest?
π‘ Hint: Remember the structure of the formula.
Question 2
True or False: Compound interest is calculated only on the initial sum invested.
π‘ Hint: Recall the meaning of compound interest.
Solve and get performance evaluation
Push your limits with challenges.
Question 1
If you have $1500 investing at a 7% annual rate compounded quarterly, how much will you have after 5 years?
π‘ Hint: Use the adjusted formula for compounding more than once a year.
Question 2
You deposit $2000 in a bank at a 5% interest rate compounded yearly. How much would you have after 10 years?
π‘ Hint: Remember to apply the annual compounding formula.
Challenge and get performance evaluation