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These sample problems below for Compound Interest were generated by the MathScore.com engine.

## Sample Problems For Compound Interest

### Complexity=20

Answer the following questions involving compound interest. Input all answers to the nearest dollar
 1 Interest Rate: 2% weekly Starting Balance: \$128Time Passed: 7 weeks How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 6% daily Starting Balance: \$188Time Passed: 8 days How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance:

### Complexity=50

Answer the following questions involving compound interest. Input all answers to the nearest dollar
 1 Interest Rate: 7% annually Starting Balance: \$131Time Passed: 7 years How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 9% annually Starting Balance: \$331Time Passed: 14 years How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance:

### Complexity=100

Answer the following questions involving compound interest. Input all answers to the nearest dollar
 1 Interest Rate: 5% daily Starting Balance: \$545Time Passed: 8 days How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance: 2 Interest Rate: 8% daily Starting Balance: \$526Time Passed: 6 days How much interest has accrued if calculated as compound interest? What is the new total balance? Interest:   Total balance:

### Complexity=20

Answer the following questions involving compound interest. Input all answers to the nearest dollar
1Interest Rate: 2% weekly
Starting Balance: \$128
Time Passed: 7 weeks
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$128
R = interest rate = 2%
T = time = 7 years
Total balance = principle × (1 + interest rate)time = 128 × (1 + (2 / 100))7 = \$147
Interest accrued = total balance - starting balance = \$147 - \$128 = \$19
2Interest Rate: 6% daily
Starting Balance: \$188
Time Passed: 8 days
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$188
R = interest rate = 6%
T = time = 8 years
Total balance = principle × (1 + interest rate)time = 188 × (1 + (6 / 100))8 = \$300
Interest accrued = total balance - starting balance = \$300 - \$188 = \$112

### Complexity=50

Answer the following questions involving compound interest. Input all answers to the nearest dollar
1Interest Rate: 7% annually
Starting Balance: \$131
Time Passed: 7 years
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$131
R = interest rate = 7%
T = time = 7 years
Total balance = principle × (1 + interest rate)time = 131 × (1 + (7 / 100))7 = \$210
Interest accrued = total balance - starting balance = \$210 - \$131 = \$79
2Interest Rate: 9% annually
Starting Balance: \$331
Time Passed: 14 years
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$331
R = interest rate = 9%
T = time = 14 years
Total balance = principle × (1 + interest rate)time = 331 × (1 + (9 / 100))14 = \$1106
Interest accrued = total balance - starting balance = \$1106 - \$331 = \$775

### Complexity=100

Answer the following questions involving compound interest. Input all answers to the nearest dollar
1Interest Rate: 5% daily
Starting Balance: \$545
Time Passed: 8 days
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$545
R = interest rate = 5%
T = time = 8 years
Total balance = principle × (1 + interest rate)time = 545 × (1 + (5 / 100))8 = \$805
Interest accrued = total balance - starting balance = \$805 - \$545 = \$260
2Interest Rate: 8% daily
Starting Balance: \$526
Time Passed: 6 days
How much interest has accrued if calculated as compound interest?
What is the new total balance?

Interest:
Total balance:
Solution
Compound Interest: Total Balance = P(1 + R)T
P = principle = starting balance = \$526
R = interest rate = 8%
T = time = 6 years
Total balance = principle × (1 + interest rate)time = 526 × (1 + (8 / 100))6 = \$835
Interest accrued = total balance - starting balance = \$835 - \$526 = \$309

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