Finance · Guided Practice

Start and End Values

4 questions with answers. Try each one before revealing the answer.

1
An investment of £3500\displaystyle \pounds 3500 grows to £3950\displaystyle \pounds 3950 over 4\displaystyle 4 years.
Calculate the annual effective rate of interest.
Give your answer as a percentage to 2 decimal places.
Video solution coming soon
2
A deposit of £8200\displaystyle \pounds 8200 grows to £9100\displaystyle \pounds 9100 over 30\displaystyle 30 months.
Calculate the monthly effective rate of interest.
Give your answer as a percentage to 3 decimal places.
Video solution coming soon
3
£600\displaystyle \pounds 600 is borrowed and no repayments are made.
After 7\displaystyle 7 months the amount owed is £693\displaystyle \pounds 693.
Calculate the monthly effective rate of interest.
Give your answer as a percentage to 2 decimal places.
Video solution coming soon
4
An account pays an effective rate of interest of 3%\displaystyle 3\% per year.
After 5\displaystyle 5 years the balance is £9280\displaystyle \pounds 9280.
Calculate the amount originally deposited.
Give your answer to the nearest penny.
Video solution coming soon