Personal Financial Literacy - Quizziz

Compound Interest formula:

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CCSS.7.RP.A.3

Simple Interest formula:

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CCSS.7.RP.A.3

When calculating simple and/or compound interest, "P" stands for:

• P = Perimeter of the base

• P = Principal

• P = Percent form

• None of these

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CCSS.7.RP.A.3

When calculating simple and/or compound interest, "t" stands for:

• t = table

• t = time in months

• t = time in years

• None of these

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CCSS.7.RP.A.3

Draw a dollar sign ($)

When calculating simple and/or compound interest, "r" stands for:

• r = rate

• r = radius

• r = relativity

• None of these

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CCSS.7.RP.A.3

When calculating compound interest, "A" stands for:

• A = Addition

• A = Area of the base

• A = Account Balance

• None of these

Which type of interest is earned on both the principal plus any previous interest earned?

• Simple Interest

• Compound Interest

• Both simple and compound interest

• None of these

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CCSS.7.RP.A.3

Karen wants to calculate the interest they would earn from investing $400 into an ccount that earns 5.5% annual compound interest for 60 months. Which formula should they use?

River has $3,00 that they plan to invest into an account that earns 7% simple interest. Assuming they make no additional deposits or withdrawals, how much interest will River earn after 15 years?

• $3,150

• $6,150

• $150

• $5,277.09

Tags

CCSS.7.RP.A.3