Compound Interest

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount

• The interest rate

• The time

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

In the compound interest formula A=P(1+r)^t what does the P stand for?

• The time

• The total amount

• The principal amount (original amount)

• The interest rate

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

the time has to be in _____________

• years

• months

• days

• seconds

Tags

TEKS.MATH.4.8A

interest is _________

• extra money paid for borrowing

• interesting

• Flocabulary songs

• time times rate

Tags

TEKS.MATH.7.4D

The A means ____________ in compound interest

• annual

• amount in account

• answer

• accrued debt

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

If you wanted to amount of interest an account has earned after being compounded annually. What would you have to do after you found "A" using the formula A=P(1+r)^t ?

• Add A (total amount) plus P (original amount)

• Subtract A (total amount from P (original amount)

• Add P (original amount) plus A (total amount)

• Subtract P (original amount) from A (total amount)

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

• $565.70

• $262609.38

• $65.70

• $630.20

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C

Hei-Hei has $1500 in a retirement account earning 5% interest compounded annually. After 5 years how much does Hei-Hei have in the account?

• $1750

• $2010.14

• $2500

• $1914.42

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Julia invested $1000 for college in an account earning 5% compounded annually. When she checked the account after 4 years, how much money did she find in the account?

• Not enough

• $563.24

• $1215.51

• $3200.12

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Trevor wants to have $4000 saved up in 3 years for a car. If he invests $1500 in a savings account that is compounded annually at an interest rate of 12%, will he have enough money at the end of the 4 years?

• Yes

• No

Tags

TEKS.MATH.2A.5B

TEKS.MATH.A.9C