Simple and Compound Interest

Front

Amount of time in years the money is borrowed or invested.

Back

Maturity/Future Value

Front

It is the date on which the total amount borrowed with interest is to be completely repaid.

Back

Maturity Date

Front

It refers to the person or institution that invests the money or makes the funds available.

Back

Creditor

Front

Which is better for the borrower, a simple interest loan or a compound interest loan?

Back

Simple interest

Front

Which is better for the lender, a simple interest loan or a compound interest loan?

Back

Compound Interest

Front

How do you write 23% as a decimal?

Back

0.23

Front

How do you write 5% as a decimal?

Back

0.05

Front

What is 5.6% written as a decimal?

Back

0.056

Front

Christine takes out a 4-year simple interest car loan for $15000 at a 3% interest rate. How much interest will she owe at the end of 4 years?

Back

$1800

Front

Aiydan puts $5000 into a savings account with a 3% interest rate. The interest compounds yearly. How much money will he have in his account after 8 years?

Back

$6333.85