Compound Interest
Flashcard
•
Mathematics
•
12th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Principal
Back
The money originally invested or loaned
2.
FLASHCARD QUESTION
Front
12% written as a decimal is...
Back
0.12
3.
FLASHCARD QUESTION
Front
What does the "t" represent in the interest formulas? Options: Time in months, Time in years, Time in days
Back
Time in years
4.
FLASHCARD QUESTION
Front
Maya won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much INTEREST (PROFIT) will she earn in 10 years?
Back
$1,005.09
5.
FLASHCARD QUESTION
Front
5 year investment of $17,500 at 6.7% interest compounded annually. What is the total return?
Back
$24,202.50
6.
FLASHCARD QUESTION
Front
Jay'den earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?
Back
$831.10
7.
FLASHCARD QUESTION
Front
How much money should I save in an account with interest rate 4% compounded quarterly if I want to have $4500 in my account in 5 years?
Back
$3687.95
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