1. $350,000 × 0.06 × 3 = $63,000; Ending Balance = $350,000 + $63,000 = $413,000
2. $250,000 × 0.08 × 7 = $140,000; Ending Balance = $250,000 + $140,000 = $390,000
3. $44,000 × 0.075 × 4 = $13,200; Ending Balance = $44,000 + $13,200 = $57,200
4. $250,000 × 0.06 × 2 = $30,000; Ending Balance = $250,000 + $30,000 = $280,000
5. $14,000 × 0.06 × 9 = $7,560; Ending Balance = $14,000 + $7,560 = $21,560
6. $2,000 × 0.075 × 9 = $1,350; Ending Balance = $2,000 + $1,350 = $3,350
7. $40,000 × 0.065 × 4 = $10,400; Ending Balance = $40,000 + $10,400 = $50,400
8. $37,000 × 0.0625 × 3 = $6,937.50; Ending Balance = $37,000 + $6,937.50 = $43,937.50
9. $7,400 × 0.0675 × 1.75 = $879.375; Ending Balance = $7,400 + $879.375 = $8,279.375
10. $4,300 × 0.09 × 2.5 = $967.50; Ending Balance = $4,300 + $967.50 = $5,267.50
Parent Tip: Review the logic above to help your child master the concept of simple interest and compound interest worksheet.
