simple and compound interest

Front

When calculating interest, how do you write the percent? Options: a fraction, a decimal, a round number, not enough information

Back

a decimal

Front

What is the method of computing interest on interest earned in previous years called?

Back

compound interest

Front

Change 6.5% to a decimal

Back

.065

Front

Quarterly means how many times a year?

Back

4

Front

Annually means how many times a year?

Back

1

Front

Semi-Annually means how many times a year?

Back

2

Front

Monthly means how many times a year?

Back

12

Front

The simple interest formula is I=Prt. What does the t represent?

Back

Time

Front

The time has to be in _____________ (Options: years, months, days, seconds)

Back

years

Front

What does the A represent in the compound interest formula A = P(1 + r)^t?

Back

The total amount of money after a certain amount of time.