Simple and Compound Interest FLASHCARD
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
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17 questions
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1.
FLASHCARD QUESTION
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.
2.
FLASHCARD QUESTION
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
3.
FLASHCARD QUESTION
Front
Write the percent as a decimal: 4.3%
Back
.043
4.
FLASHCARD QUESTION
Front
What is the formula for simple interest?
Back
I=Prt
5.
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
6.
FLASHCARD QUESTION
Front
Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%. What is the total amount she will repay for the car loan?
Back
$23040
7.
FLASHCARD QUESTION
Front
A bank is offering 7% annual compound interest on a savings account. If you deposit $1,500, what will be the total amount of money in your savings account after three years?
Back
$1837.56
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