Simple and Compound Interest

Simple and Compound Interest

Assessment

Flashcard

Mathematics

KG - University

Practice Problem

Hard

Created by

Wayground Content

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15 questions

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1.

FLASHCARD QUESTION

Front

What does the 't' represent in the simple interest formula I=Prt?

Back

Time, in years.

2.

FLASHCARD QUESTION

Front

Which is the compound interest formula?

Back

A = P(1+r)^t

3.

FLASHCARD QUESTION

Front

Calculate the simple interest for Principal = $350, Interest rate = 2.5%, Time = 3 years.

Back

$26.25

4.

FLASHCARD QUESTION

Front

What does 'A' represent in the compound interest formula A = P(1 + r)^t?

Back

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

5.

FLASHCARD QUESTION

Front

If Beyonce takes a loan of $6500 at a simple interest rate of 8% for 5 years, what is the total amount she will pay?

Back

$9100.

6.

FLASHCARD QUESTION

Front

What is the formula for calculating simple interest?

Back

I = Prt.

7.

FLASHCARD QUESTION

Front

What does 'P' stand for in the simple interest formula?

Back

Principal amount.

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