Compound interest
Flashcard
•
Mathematics
•
11th Grade
•
Practice Problem
•
Hard
Standards-aligned
Wayground Content
FREE Resource
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15 questions
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1.
FLASHCARD QUESTION
Front
What does the variable 't' represent in the compound interest formula ?
Back
The time (in years) for which the money is invested or borrowed.
2.
FLASHCARD QUESTION
Front
In the context of compound interest, what does 'n' represent when interest is compounded semi-annually?
Back
The number of times interest is compounded per year; for semi-annual compounding, n=2.
3.
FLASHCARD QUESTION
Front
What is the formula for calculating compound interest when compounded continuously?
Back
where A is the amount, P is the principal, r is the interest rate, and t is the time.
4.
FLASHCARD QUESTION
Front
If you invest $5,000 at an interest rate of 3.75% compounded monthly for 25 years, what is the future account balance?
Back
$12,749.30.
Tags
CCSS.HSF-LE.A.1C
5.
FLASHCARD QUESTION
Front
True or False: The equation can be used for population growth models.
Back
False.
Tags
CCSS.HSF-IF.C.8B
6.
FLASHCARD QUESTION
Front
What is the difference between simple interest and compound interest?
Back
Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus any interest that has been added.
Tags
CCSS.7.RP.A.3
7.
FLASHCARD QUESTION
Front
Define compound interest.
Back
Interest calculated on the initial principal and also on the accumulated interest from previous periods.
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