Simple and Compound Interest

Front

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

Back

Maturity/Future Value

Tags

CCSS.8.EE.C.7B

Front

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

Back

Maturity Date

Tags

CCSS.HSF-IF.C.8B

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

Tags

CCSS.6.NS.C.7A

CCSS.6.NS.C.7B

Front

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

Back

Compound Interest

Tags

CCSS.7.RP.A.3

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

Tags

CCSS.7.RP.A.3

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

Tags

CCSS.HSF-LE.A.1C