Compound Interest Problems 14Ad31
1. A person invests 1000 at an annual compound interest rate of 5%. How much money will they have after 3 years?
2. A bank offers a compound interest rate of 4% per year, compounded quarterly. If you deposit 2000, what will be the amount after 5 years?
3. You invest 1500 in an account that compounds interest monthly at a rate of 6% per year. Calculate the total amount after 2 years.
4. A sum of 2500 is invested at an annual compound interest rate of 3.5%, compounded semi-annually. Find the amount after 4 years.
5. An initial investment of 3000 is made in an account with a compound interest rate of 7% per year, compounded annually. How much will the investment be worth after 6 years?