Objective: Using EXCEL to work out compound interest problems Name(s) £100 is invested in a Building Society for a number of years. Find out how much it is worth at various times Percentage increase 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% Amount 1 year £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 £100.00 2 years 3 years 4 years 5 years 6 years
Answer these questions from the completed chart or by extending the chart as necessary 1. 2. 3. 4. 5. 6. What percentage rate just doubles your money in 5 years? If you invest £100 for 6 years at 7% interest, what will your money be worth? If you invest £200 for 3 years at 12% interest, explain why it would be worth £280.98 What is value of £200 invested for 7 years at 4% interest? How many years would it take £100 to at least double in value if the percentage rate were 5%? What percentage rate is needed for £100 to be worth just over £1000 in 10 years?
Now click onto the tab "Depreciation chart"
h it is worth at various times 7 years 8 years 9 years 10 years
ercentage rate were 5%?
Objective: Using EXCEL to work out a depreciation compound interest problems Name(s) A factory buys a piece of machinery for £500. The machinery loses value over time. Find the value of the machinery at Percentage decrease Amount 1 year 1% £500.00 2% £500.00 3% £500.00 4% £500.00 5% £500.00 6% £500.00 7% £500.00 8% £500.00 9% £500.00 10% £500.00 11% £500.00 12% £500.00 13% £500.00 14% £500.00 15% £500.00 16% £500.00 17% £500.00 18% £500.00 19% £500.00 20% £500.00 2 years 3 years 4 years 5 years 6 years
Answer 1. 2. 3.
these questions from the completed chart or by extending the chart as necessary How many years will it take the machine to be worth less than £200 if the depreciation rate is 10%? What is the percentage rate that would half the value in 8 years? How many years would it take the machine to be worth less than £100 at 13% depreciation rate?
e value of the machinery at different times. 7 years 8 years 9 years 10 years
tion rate is 10%?
ciation rate?