Simple & Compound Interest

Flashcard
•
Mathematics
•
11th - 12th Grade
•
Hard
+3
Standards-aligned
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19 questions
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1.
FLASHCARD QUESTION
Front
The principal in an investment or loan is _________.
Back
the amount of money borrowed or deposited
Tags
CCSS.7.RP.A.3
2.
FLASHCARD QUESTION
Front
To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.
Back
compound ; highest
3.
FLASHCARD QUESTION
Front
How to convert time in months to years for simple interest calculation?
Back
Divide the months by 12.
Tags
CCSS.7.RP.A.3
4.
FLASHCARD QUESTION
Front
What is the formula for simple interest?
Back
I=Prt
Tags
CCSS.7.RP.A.3
5.
FLASHCARD QUESTION
Front
When calculating interest, the rate must be converted into a ____ before multiplying.
Back
decimal
Tags
CCSS.7.RP.A.3
6.
FLASHCARD QUESTION
Front
What does P stand for in I = Prt ?
Back
principal
Tags
CCSS.6.EE.B.7
7.
FLASHCARD QUESTION
Front
A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?
Back
$375
Tags
CCSS.7.RP.A.3
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