Simple & Compound Interest Review

Simple & Compound Interest Review

Assessment

Flashcard

Mathematics

9th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the formula for simple interest?

Back

I = Prt

2.

FLASHCARD QUESTION

Front

What does the term 'principal' refer to in finance?

Back

The principal is the initial amount of money borrowed or invested.

3.

FLASHCARD QUESTION

Front

What does 'I' stand for in the simple interest formula I = Prt?

Back

I stands for Interest earned.

4.

FLASHCARD QUESTION

Front

What does 'r' represent in the formula I = Prt?

Back

r represents the interest rate.

5.

FLASHCARD QUESTION

Front

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

Back

t represents the time the money is borrowed or invested.

6.

FLASHCARD QUESTION

Front

What is the meaning of 'semiannually'?

Back

Semiannually means interest is compounded every half of a year or two times a year.

7.

FLASHCARD QUESTION

Front

What is the meaning of 'quarterly'?

Back

Quarterly means interest is compounded four times a year.

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