Simple and Compound Interest

Simple and Compound Interest

Assessment

Flashcard

Mathematics

7th - 8th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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18 questions

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1.

FLASHCARD QUESTION

Front

When calculating interest, how do you write the percent?

Back

a decimal

2.

FLASHCARD QUESTION

Front

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200

3.

FLASHCARD QUESTION

Front

The simple interest formula is I=Prt. What does the t represent?

Back

Time

4.

FLASHCARD QUESTION

Front

Write the percent as a decimal: 4.3%

Media Image

Back

.043

5.

FLASHCARD QUESTION

Front

What does the "I" in the interest formula stand for?

Media Image

Back

Interest

6.

FLASHCARD QUESTION

Front

What does the A represent in the compound interest formula A = P(1 + r)t?

Back

The total amount of money after a certain amount of time.

7.

FLASHCARD QUESTION

Front

The time has to be in _____________ (Options: years, months, days, seconds)

Back

years

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