Compound Interest  

Compound Interest Worksheet     1st Year                Name _________________________

Calculate the compound interest on each of the following investments:  
The first one is done for you

Q.1        €500 for 2 years @ 6% per annum (per year)                                            Workings

            P1     €500                                                                                  Amount invested
                                                                                      
            I1      €30                                                                                    P1 x 6% = €500 x 6% = €30

            P2    €530                                                                                   P1 + I1 = €500 + €30 = €530

            I2     €31.80                                                                                €530 x 6% = €31.80

                    €561.80    (amount in account after two years)                    P2 + I2= €530 + €31.80

Total interest for 2 years   €61.80                                                            I1 + I2 = 30.00 + 31.80

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Q.2        €800 for 2 years @ 4% per annum

        P1  ________________

        I1  _________________

        P2  ________________

        I2  _________________

            _________________    (amount in account after 2 years)

Total interest for 2 years: ___________________

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Q.3        €600 for 2 years @ 8% per annum

        P1  ________________

        I1  _________________

        P2  ________________

        I2  _________________

            _________________    (amount in account after 2 years)

Total interest for 2 years: _________________

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Q.4        €550 for 2 years @ 10% per annum

        P1 _________________

        I1  _________________

        P2  _________________

        I2  _________________

            __________________    (amount in account after 2 years)

Total interest for 2 years: _______________

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Q.5        €1,000 for 2 years @ 6% per annum

        P1  _______________

        I1  ________________

        P2  _______________

        I2  ________________

            _________________    (amount in account after 2 years)

Total interest for 2 years: _________________

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Q.6        €800 for 2 years @ 10% per annum

        P1  _______________

        I1  ________________

        P2  _______________

        I2  _______________

            _______________    (amount in account after 2 years)

Total interest for 2 years: ________________

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