Compound Interest

Compound Interest

Assessment

Flashcard

Mathematics

9th - 10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What does 'Semi-Annually' mean?

Back

It means occurring two times a year.

2.

FLASHCARD QUESTION

Front

What is the formula for calculating compound interest?

Back

A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest, P is the principal amount, r is the annual interest rate (decimal), n is the number of times that interest is compounded per year, and t is the number of years the money is invested or borrowed.

3.

FLASHCARD QUESTION

Front

If Karla invests $1,000 at 6.75% interest compounded semi-annually, how much will she have after 15 years?

Back

$2,706.86

4.

FLASHCARD QUESTION

Front

What does the $475 represent in Jay'den's investment?

Back

It represents the Principal or initial value, P.

5.

FLASHCARD QUESTION

Front

What is the annual interest rate in decimal form for 3.8%?

Back

0.038

6.

FLASHCARD QUESTION

Front

How many times is interest compounded in a year if it is compounded semi-annually?

Back

2 times.

7.

FLASHCARD QUESTION

Front

What is the total amount after 15 years if $1,000 is invested at 6.75% compounded semi-annually?

Back

$2,706.86

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