Compound and Continuous Interest

Flashcard
•
Mathematics
•
10th - 12th Grade
•
Hard
+1
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
Front
What is compound interest?
Back
Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.
Tags
CCSS.7.RP.A.3
2.
FLASHCARD QUESTION
Front
How is continuous interest calculated?
Back
Continuous interest is calculated using the formula A = Pe^(rt), where A is the amount of money accumulated after n years, P is the principal amount, r is the annual interest rate, and t is the time in years.
3.
FLASHCARD QUESTION
Front
Convert 5.2% to a decimal.
Back
.052
4.
FLASHCARD QUESTION
Front
What is the formula for compound interest?
Back
The formula for compound interest is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, P is the principal amount, r is the annual interest rate, n is the number of times that interest is compounded per year, and t is the number of years.
5.
FLASHCARD QUESTION
Front
If $2,200 is invested at 5.2% interest compounded daily for 4 years, how much will it grow to?
Back
$2708.63
Tags
CCSS.HSF-LE.A.1C
6.
FLASHCARD QUESTION
Front
Convert 18% to a decimal.
Back
.18
7.
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 already been added.
Tags
CCSS.7.RP.A.3
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