Monthly: Real-world Applications of Compound Interest
Mathematics
Year 9
11 questions
~22 mins
1 views0 downloads
About This Worksheet
A worksheet exploring compound interest calculated on a monthly basis within real-world contexts such as gaming and technology for Year 9 students.
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Full preview • 11 questions
Monthly: Real-world Applications of Compound Interest
Subject: MathematicsGrade: Year 9
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Date:
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Untitled Worksheet
Grade Year 9
A
Practice Questions
Answer all questions. Show your working in the grid spaces provided.
1.
Calculate the amount after 1 year if £500 is invested at an annual interest rate of 6%, compounded monthly. Provide your answer rounded to the nearest penny.
[3 marks]2.
A gaming company invests £2000 at an annual interest rate of 12%, compounded monthly. What will be the investment value after 6 months?
[3 marks]3.
A technology startup saves £1500 with a monthly compound interest rate of 1.5%. How much will they have after 3 years?
[4 marks]4.
Plot the graph of y= (1 + r/12)^t for r=8% over 12 months. (Use the grid to draw the curve.)
[4 marks]5.
Construct a triangle with sides proportional to the investment growth over 1, 6, and 12 months at 10% annual interest, compounded monthly. Use the grid for accuracy.
[4 marks]6.
An app developers' savings account grows by 0.8% per month. If they start with £1000, how much will they have after 18 months?
[4 marks]7.
A gaming subscription costs £10 monthly with 5% interest on unpaid balances. How much will the debt be after 10 months if the initial debt was £100?
[4 marks]8.
A student invests £300 in a tech fund with 9% annual interest compounded monthly. How long will it take to reach £400?
[5 marks]9.
A company’s savings grow by 1.2% per month. If they start with £5000, what will be the total after 2 years? (Round to nearest pound.)
[4 marks]10.
Identify and correct the common mistake: A student calculates the future value of £1000 at 6% annual interest compounded monthly over 1 year as £1060, assuming simple interest. Explain and fix the error.
[4 marks]11.
A gamer invests £250 in a virtual currency account earning 15% annual interest compounded monthly. How much will they have after 9 months?
[4 marks]Quick Actions
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Details
- Created
- 1/1/2026
- Updated
- 1/1/2026
- Type
- worksheet