SIMPLE AND COMPOUND INTEREST

Front

David invests $10,000 in a savings account that pays 3.5% simple interest. If David makes no withdrawals or deposits to the account, how much will be in the account after 7 years?

Back

$12,450

Front

Garrison deposited $500 in an account that earns 5% annual interest compounded annually. How much interest will the account earn after 4 years?

Back

$107.75

Front

Audrey deposited $2,800 in a savings account that pays 2.65% interest compounded annually. What is the total value of the account after 7 years?

Back

$3362.57

Front

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200

Front

What does the "t" represent in the simple interest formula I=Prt?

Back

Time

Front

Write the percent as a decimal: 4.3%

Back

.043

Front

What does the "I" in the interest formula stand for?

Back

Interest

Front

Caiden 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

Front

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

Back

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

Front

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

Back

$2,100.34