Compound Interest

Front

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

Back

$12,749.30

Front

Monthly means how many times a year?

Back

12

Front

Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. How long has the money been in the account?

Back

7 years

Front

What does the n stand for in this formula?

Back

The number of times compounded per year

Front

What does the r stand for in this formula?

Back

Rate

Front

What does the P stand for in this formula?

Back

Initial amount

Front

How long will it take for your money to triple at 3.9% interest compounded monthly?

Back

28 years and 3 months

Front

Karla invested $1,000 in savings bonds earning 6.75% interest compounded semi-annually. Which exponential equation can be used to find how much money Karla will earn in 15 years?

Back

Front

What does $475 represent in the context of Jay'den's account?

Back

Principal or initial value, P

Front

What does 15 represent in the context of Jay'den's account balance calculation? Options: Principal or initial value, P; Rate of interest, r; Number of times interest is compounded, n; Time, t.

Back

Time, t