The workbook pages you’ve shared cover exercises related to compound interest, exploring how to calculate interest in different scenarios (e.g., daily, quarterly, annually) and using various rates. I'll walk you through the types of questions and outline how to approach solving them.

Overview of Key Problem Types and Approaches

1. Simple and Compound Interest Comparisons (Questions 1-3)

   • Calculate the interest on a principal amount with different compounding rates and intervals.
   • Use the formulas:
     • Simple Interest (SI): $\text{SI} = P \times r \times t$
     • Compound Interest (CI): $A = P(1 + \frac{r}{n})^{nt}$ where $A$ is the total amount, $P$ is the principal, $r$ is the annual interest rate, $n$ is the number of compounding periods per year, and $t$ is the time in years.

2. General Compound Interest Calculation (Questions 4-10)

   • Find the interest earned for given amounts over specific periods and rates.
   • Apply the compound interest formula for different intervals (e.g., quarterly, daily).
   • For example, for quarterly compounding, set $n = 4$, and for daily compounding, $n = 365$.

3. Short-Term Interest Calculations (Questions 11-17)

   • Calculate interest for shorter periods like daily or even hourly compounding.
   • Use the compound interest formula with the appropriate compounding interval.

4. Scenario-Based Questions (Questions 12-19)

   • Involves situations where deposits, withdrawals, or balances change, and you need to calculate the updated balance after these adjustments.
   • These questions may require calculating interest at different points or over varying periods, adjusting for the changes in principal.

Would you like me to go through specific questions in detail, or do you want a breakdown of a particular formula applied to one of these problems?

Suggested Next Steps

Here are five questions based on the topics and formulas mentioned:

1. How does changing the compounding frequency (e.g., from yearly to quarterly) affect the total interest earned?
2. How would you calculate compound interest for a very short period, like one day or one hour?
3. Can you explain why compound interest generally yields a higher return than simple interest over time?
4. How would a withdrawal or deposit affect the interest calculation in a compound interest account?
5. What differences would you expect in interest earnings between daily and weekly compounding?

Tip:

When working with compound interest problems, always identify the compounding frequency first, as it directly impacts the calculations and final amounts.