Compound Interest
Flashcard
•
Mathematics
•
9th - 10th Grade
•
Practice Problem
•
Hard
+5
Standards-aligned
Wayground Content
FREE Resource
Student preview
15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What does 'annually' mean?
Back
It means once a year.
Tags
CCSS.L.1.6
CCSS.L.3.6
CCSS.L.K.5A
2.
FLASHCARD QUESTION
Front
What is the formula for compound interest?
Back
A = P(1 + r/n)^(nt) where A is the amount, P is the principal, r is the rate, n is the number of times interest is compounded per year, and t is the time in years.
3.
FLASHCARD QUESTION
Front
How do you convert a percentage to a decimal?
Back
Divide the percentage by 100.
4.
FLASHCARD QUESTION
Front
What does the principal (P) represent in compound interest?
Back
The principal is the initial amount of money invested or borrowed.
5.
FLASHCARD QUESTION
Front
If Karla invests $1,000 at 6.75% compounded semi-annually, how many times is the interest compounded in one year?
Back
The interest is compounded 2 times a year.
6.
FLASHCARD QUESTION
Front
What is the rate of interest (r) in decimal form for 6.75%?
Back
.0675
7.
FLASHCARD QUESTION
Front
What does 'compounded semi-annually' mean?
Back
It means that interest is calculated and added to the principal twice a year.
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