Compound Interest
Flashcard
•
Mathematics
•
11th - 12th Grade
•
Hard
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15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.
Back
$12,749.30
2.
FLASHCARD QUESTION
Front
Monthly means how many times a year?
Back
12
3.
FLASHCARD QUESTION
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
4.
FLASHCARD QUESTION
Front
What does the n stand for in this formula?
Back
The number of times compounded per year
5.
FLASHCARD QUESTION
Front
What does the r stand for in this formula?
Back
Rate
6.
FLASHCARD QUESTION
Front
What does the P stand for in this formula?
Back
Initial amount
7.
FLASHCARD QUESTION
Front
How long will it take for your money to triple at 3.9% interest compounded monthly?
Back
28 years and 3 months
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