1. Number and Algebra
Compound Interest And Depreciation — Quiz
Test your understanding of compound interest and depreciation with 5 practice questions.
Practice Questions
Question 1
What does compound interest mean?
Question 2
Which formula gives the amount $A$ after $n$ periods with compound interest rate $r$ and initial principal $P$?
Question 3
A savings account has an initial deposit of $1000$ and earns $5\%$ compound interest per year. What is the amount after $1$ year?
Question 4
A machine costs $2000$ and depreciates by $10\%$ each year. What is its value after $1$ year?
Question 5
Which expression shows the value of an item that depreciates by $d$ each period from an original value $V_0$?