|Compound Interest Worksheet 15 For Google Apps|
|For these word problems, the interest is compounded monthly. Sample questions are:|
1. What will the final balance be for $870 invested at 4% compounded quarterly for four years?
2. If an investment over seven years at a rate of 3% compounded quarterly results in a final balance of $795.10, what was the original investment?
3. How long must $196 be invested at a rate of 8% compounded quarterly to earn $95.25 in interest?