Compound Interest and Financial Maths

Question 1

$5000 is invested at 6% per annum compound interest. How much will it be worth after 3 years?

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A $5900 B $5950.16 C $5955.08 D $6000

Question 2

A car depreciates at 15% per year. If it cost $25,000, what is it worth after 4 years?

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A $10,900.31 B $11,050.63 C $13,050.52 D $15,250.00

Question 3

If y is inversely proportional to x and y = 12 when x = 5, find y when x = 8

A 7.5 B 8.5 C 9 D 10

Question 4

How long does it take for $3000 to double at 8% compound interest per annum?

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A 8 years B 8.5 years C 9 years D 9.5 years

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