Success TutoringWorksheets

10th Grade Simple and Compound Interest Worksheet — Level 2 — Answers

Answer sheet with worked solutions for the 10th Grade financial math worksheet.

Download answers PDFPrint answersBack to worksheet
Success TutoringWorksheetsAnswer sheet10th Grade · Mathematics · Financial Mathematics

10th Grade Simple and Compound Interest Worksheet — Level 2 — Answers

Show your work. Write the rate as a decimal (5% = 0.05). Round money to the nearest cent.

1.$6,500.00 is invested at 2% per year, compounded yearly, for 6 years. Find the final amount and the interest earned, to the nearest cent.

Answer: Amount $7,320.06; interest $820.06

  1. A = P(1 + r)n = $6,500.00 × (1 + 0.02)6
  2. = $6,500.00 × 1.126162
  3. ≈ $7,320.06
  4. Interest = $7,320.06 − $6,500.00 = $820.06
2.Find the simple interest on $2,750.00 invested at 4.5% per year for 2 years. What is the total value at the end?

Answer: Interest $247.50; total $2,997.50

  1. I = P × r × n = $2,750.00 × 0.045 × 2
  2. = $247.50
  3. Total = $2,750.00 + $247.50 = $2,997.50
3.Find the simple interest on $2,500.00 invested at 8% per year for 5 years. What is the total value at the end?

Answer: Interest $1,000.00; total $3,500.00

  1. I = P × r × n = $2,500.00 × 0.08 × 5
  2. = $1,000.00
  3. Total = $2,500.00 + $1,000.00 = $3,500.00
4.Find the simple interest on $5,000.00 invested at 2.5% per year for 5 years. What is the total value at the end?

Answer: Interest $625.00; total $5,625.00

  1. I = P × r × n = $5,000.00 × 0.025 × 5
  2. = $625.00
  3. Total = $5,000.00 + $625.00 = $5,625.00
5.Find the simple interest on $6,250.00 invested at 4.5% per year for 3 years. What is the total value at the end?

Answer: Interest $843.75; total $7,093.75

  1. I = P × r × n = $6,250.00 × 0.045 × 3
  2. = $843.75
  3. Total = $6,250.00 + $843.75 = $7,093.75
6.$1,750.00 is invested at 5% per year, compounded yearly, for 2 years. Find the final amount and the interest earned, to the nearest cent.

Answer: Amount $1,929.38; interest $179.38

  1. A = P(1 + r)n = $1,750.00 × (1 + 0.05)2
  2. = $1,750.00 × 1.1025
  3. ≈ $1,929.38
  4. Interest = $1,929.38 − $1,750.00 = $179.38
7.$4,000.00 is invested at 4% per year, compounded yearly, for 2 years. Find the final amount and the interest earned, to the nearest cent.

Answer: Amount $4,326.40; interest $326.40

  1. A = P(1 + r)n = $4,000.00 × (1 + 0.04)2
  2. = $4,000.00 × 1.0816
  3. ≈ $4,326.40
  4. Interest = $4,326.40 − $4,000.00 = $326.40
8.$5,750.00 is invested at 3% per year, compounded yearly, for 3 years. Find the final amount and the interest earned, to the nearest cent.

Answer: Amount $6,283.18; interest $533.18

  1. A = P(1 + r)n = $5,750.00 × (1 + 0.03)3
  2. = $5,750.00 × 1.092727
  3. ≈ $6,283.18
  4. Interest = $6,283.18 − $5,750.00 = $533.18
Free worksheets at worksheets.successtutoring.com · © Success Tutoring · Free for personal and classroom use

Marking tips

  • Give credit for correct method even when the final answer slips — the working shows where the thinking went right.
  • For open-ended tasks, use the success criteria as a checklist rather than looking for one "right" answer.
  • Celebrate what went well first, then pick one thing to work on next.

Great work. Here's what to try next: