

Exploring Simple and Compound Interest Concepts
Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Practice Problem
•
Hard
Standards-aligned
Sophia Harris
FREE Resource
Standards-aligned
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the principal amount refer to?
The rate of interest charged by the bank
The final amount after interest is applied
The total amount of interest earned
The initial sum of money deposited or loaned
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is simple interest calculated?
Principal plus interest rate
Principal divided by the rate times the time
Principal times the rate times the time
Principal times the rate divided by the time
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you deposit $250 at an interest rate of 4% for 3 years, how much interest will you earn with simple interest?
$10
$20
$40
$30
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes compound interest from simple interest?
Simple interest rates are higher than compound interest rates
Compound interest is calculated on the principal and the accumulated interest
Simple interest is calculated on the principal only
Compound interest is calculated only once a year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What formula represents the calculation for compound interest?
Principal divided by (1 plus rate) to the power of time
Principal times (1 plus rate) to the power of time
Principal plus (rate times time)
Principal times rate times time
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does semi-annually compounding mean?
Interest is compounded every month
Interest is compounded once every two years
Interest is compounded twice in a year
Interest is compounded once a year
Tags
CCSS.HSF-LE.A.1C
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much more can you earn from compounding semi-annually compared to annually over a long period?
There is no difference
About the same
Significantly less
Slightly more
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