Mathematics Worksheet/Social Arithmetic/Bank interests

1

If $100 is deposited at 4% in the Octopus Bank on 27th April,
how much will be in the account 6 months later on the 27th October?

How much will be in the account after 1 year?

2

The Kaching Credit Union offers a deposit account at 7% Per Annum for 2 years.
Calculate using simple interest how much the return would be from $1200 for 1 year?

If $1200 is deposited for 2 years, how much interest will it earn?

This article is issued from Wikibooks. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.