Compound Interest

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Interest resulting from the periodic addition of simple interest to the principal amount.

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compound interest

Tags

CCSS.HSF.BF.A.2

Front

This refers to the number of times in a year the interest will be compounded.

Back

conversion period

Tags

CCSS.8.EE.C.7B

Front

When interest is compounded quarterly, how many times is interest compounded in a year?

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four times

Front

This is called the interest rate per conversion.

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periodic rate

Front

If interest is compounded semiannually for 5 years, what is the total number of conversion periods?

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10

Tags

CCSS.HSF-LE.A.1C

Front

What do you call the interest rate when compounded annually?

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effective

Front

What do you call two rates with different conversion periods but produce equal interest on the same principal at the same period of time?

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equivalent

Front

Find the total number of conversion periods if a given interest rate is compounded quarterly for 5 years.

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20

Tags

CCSS.HSF-LE.A.1C

Front

Formula for finding the compound amount?

Back

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