Mathematics of Finance

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

The compound interest formula is:

S = P(1 + i)ⁿ

What does the S represent?

• The amount of interest earned.

• The amount of time that has passed.

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

• The amount required to invest.

If you are calculating the simple interest and you are given the time in months. How can you find the time in years?

• divide 12 by the months

• divide the months by 12

• multiply 12 times the months

• change the months to a decimal

Tags

CCSS.7.RP.A.3

Interest paid on the original principal plus the accumulated interest. 

• Simple Interest
• Compound Interest
• Exact Interest
• Ordinary Interest

It refers to the amount of money borrowed.

• Interest

• Principal

• Term

• Rate

What do you call the amount earned or paid with the use of money?

• Interest

• Principal

• Term

• Rate

Semi-Annually means how many times a year?

• 4 
• 2
• 1
• 6

Tags

CCSS.4.MD.A.2

Interest is paid only quarterly or annually on savings accounts.

• True
• False

A card that borrows money but it has to be paid back

• Debit Card 
• Credit Card 
• Baseball Card 
• Pokemon Card 

Tags

CCSS.6.NS.C.5

A card that uses money directly from your bank account

• Debit Card 
• Credit Card 
• Pokemon Card 
• Baseball Card 

Tags

CCSS.4.MD.A.2