 Published: 28/04/2020
KS5
4 pages

# Percentage and AER calculations

A Core maths worksheet to practise simple and compound interest calculations, calculated annually, monthly or quarterly, and to test understanding of what annual equivalent interest rate measures.

Sample:

£5000 is invested in 4 different accounts paying 3.8% per annum (p.a.) interest.

1) 3.8% p.a. simple interest

1. Calculate the interest earned after 1 year.
2. Calculate the total amount in the account after 1 year.
3. Calculate the total amount in the account after 7 years.
4. Calculate the total interest earned after 7 years.
5. How long would it take for the investment to double in value?

5) Calculate the AER for 3.8% p.a. compound interest paid quarterly.

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