Financial Responsibility Vocabulary

A rule that finds how many years it takes to double and amount of money with a given interest rate

• rule of 72

• rule of 82

Tags

CCSS.7.RP.A.3

Interest that is earned on both the principal and any interest that has been earned previously

• simple interest

• compound interest

Tags

CCSS.7.RP.A.3

the money earned on only the original amount invested

• simple interest

• compound interest

Tags

CCSS.7.RP.A.3

a fee paid for the use of money over time

• interest

• simple interest

Tags

CCSS.7.RP.A.3

the initial amount of money invested

• interest

• principal

Tags

CCSS.7.RP.A.3