Chapter 6 Review 8th Grade

Compound Interest

• The initial amount of money invested or borrowed.

• A ratio that compares a number to 100

• Interest that is calculated at set intervals on the sum of the principal and any previously earned interest.

• The amount paid for the use of money.

• Interest that is calculated on the principal only and is proportional to the length of the loan or investment.

Simple Interest

• The initial amount of money invested or borrowed.

• A ratio that compares a number to 100

• Interest that is calculated at set intervals on the sum of the principal and any previously earned interest.

• The amount paid for the use of money.

• Interest that is calculated on the principal only and is proportional to the length of the loan or investment.

Principal

• The initial amount of money invested or borrowed.

• A ratio that compares a number to 100

• Interest that is calculated at set intervals on the sum of the principal and any previously earned interest.

• The amount paid for the use of money.

• Interest that is calculated on the principal only and is proportional to the length of the loan or investment.

Percent

• The initial amount of money invested or borrowed.

• A ratio that compares a number to 100

• Interest that is calculated at set intervals on the sum of the principal and any previously earned interest.

• The amount paid for the use of money.

• Interest that is calculated on the principal only and is proportional to the length of the loan or investment.

Interest

• The initial amount of money invested or borrowed.

• A ratio that compares a number to 100

• Interest that is calculated at set intervals on the sum of the principal and any previously earned interest.

• The amount paid for the use of money.

• Interest that is calculated on the principal only and is proportional to the length of the loan or investment.

Simple Interest Formula

• I = P - R - T

• I = P × R × T

• I = P / R / T

• I = P + R + T

Compound Interest Formula

• A = P(1 + r)^(nt)
• A = P(1 + r/n)^(nt)
• A = P(1 + n/r)^(nt)
• A = P(1 - r/n)^(nt)

Percent formula

• Percent x whole= part

• Part x whole= percent

• Percent x part= whole

• Part + whole= percent

What is 98% as a decimal?

• 1.98
• 0.98%
• 0.98
• 0.8

Express 5.9 as a percent.

• 5.9%
• 590%
• 59%
• 0.59%