Multiple interest period - answers
1. What is the interest rate factor if the account interest rate is 1,7%?
A) 1,017
B) 0,017
C) 1,17
D) 1,0017
2. 1000 € was deposited in the account for three years. The interest rate on the account was 2,5%. What expression can you use to calculate how much money is in your account three years after the deposit?
A) 1000 · 1.0025³
B) 1000 · 1.025³
C) 1000 · 1.25³
D) 1.0025 · 1000 · 3
3. 1825 € was deposited in an account with an interest rate of 3,25%. How much could be withdrawn from the account after five years?
4. 125 € was deposited into the account. What was the interest rate on the account when 13148 € could be withdrawn from the account at the end of the three-year deposit period?
Interest rate 1,7%
5. 1500 € will be deposited in the investment account. Form an equation that can be used to calculate the interest rate of an account when the account has 1580 € in money after five years.
6. A deposit of 1500 € will be deposited in the account for a year. The interest rate on the account is 1.5%.
a) How much interest is paid on the account?
b) Interest income on deposits is taxable income. The tax payable on interest is called tax at source on interest, which in 2019 will be 30%. How much tax at source on interest is paid from interest?
7. Net interest rate means the actual interest rate paid on a deposit. The net interest rate is obtained when the share of tax at source on interest (30%) is deducted from the interest rate paid by the bank. The interest rate on the account is 1,5%. The net interest rate can be calculated
A) 1.5 · 0.3
B) 1.5 · 0.7
C) 1.5 - 0.3
D) 1.015 · 0.7
8. 1250 € will be deposited in the investment account for one year. The interest rate on the account is 1,6%. How much interest is paid on the account when the tax at source on interest is 30%?
9. 1250 € will be deposited in the investment account for one year. How much money is in the account after one year when the interest rate on the account is 2,00%?
10. How much had been deposited into the account when 19896 € could be withdrawn from the account after a deposit period of five years? The interest rate on the account is 2,6%. Tax at source on interest is not taken into account.
