24.3.2 - Compound Interest (CI)
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Practice Questions
Test your understanding with targeted questions
What does Compound Interest rely on?
💡 Hint: Think about what happens to your total amount over time.
Write the formula for Compound Interest.
💡 Hint: What does each letter in the formula represent?
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is Compound Interest?
💡 Hint: Think about how investments can grow over time.
True or False: Compound Interest is always less than Simple Interest.
💡 Hint: Consider the effects of accumulating interest.
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Challenge Problems
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An investor put ₹3,000 into a savings account that offers 7% interest compounded quarterly. Determine how much will be in the account after 10 years.
💡 Hint: Remember to convert the interest rate for quarterly compounding.
If a company needs ₹25,000 in 5 years, what annual compounding rate do they need if they start with ₹15,000?
💡 Hint: Rearrange the formula to isolate r.
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