rule of 72 and interest formulas

Your returns (or interest rate) are 8% a year. How long before your investment doubles?

• 9 years
• 8 years
• 7 years
• Never

Tags

CCSS.HSF.LE.A.4

Your returns (or interest rate) are 9% a year. How long before your investment doubles?

• 9 years
• 8 years
• 7 years
• They won't

Tags

CCSS.HSF.LE.A.4

Your returns (or interest rate) are 6% a year. How long before your investment doubles?

• 18 years
• 16 years
• 12 years
• 8 years

Tags

CCSS.HSF.LE.A.4

Your returns (or interest rate) are 1% a year because they are in a savings account. How long before your savings doubles?

• 72 years
• 36 years
• 1 year
• They will never double

Tags

CCSS.HSF.LE.A.4

What interest rate would you need to double $3500 in 9 years?

• 7%
• 10%
• 8%
• 38.8%

Tags

CCSS.HSF.LE.A.4

What interest rate would you need to double $2500 in 12 years?

• 5%
• 6%
• 34%
• 16%

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.B.5

What calculation should you do to answer the question:

How many years will it take $900 to double if the interest rate is 2%?

• 72 divided by 2

• 900 divided by 2

• 2 divided by 100 times 900

Tags

CCSS.HSF.LE.A.4

A quick way to estimate how long it takes for your money to double is called...

• rule of 72

• compound interest

• simple interest

• inflation

Tags

CCSS.HSF.LE.A.2

When interest is added to the balance each year and the new balance is used to calculate the interest for the next year is called...

• simple interest

• compound interest

• rule of 72

• inflation

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.3

If Raven has money in the bank at 3% interest, how many years will it take her money to double? (type number only)

(a)  

Tags

CCSS.HSF.LE.A.4