
Exploring Simple and Compound Interest Concepts

Interactive Video
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Mathematics
•
6th - 10th Grade
•
Medium
Standards-aligned

Aiden Montgomery
Used 17+ times
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Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is interest in the context of banking?
A fee for account maintenance
An annual membership fee
Money paid by a bank for borrowing your money
A fixed charge for withdrawing money
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the principal amount refer to?
The interest rate as a decimal
The total amount in the account after interest
The initial amount of money borrowed or invested
The total amount of interest earned
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is time represented when calculating simple interest?
In weeks
In months
As a fraction of a year
In days
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate converted for use in interest formulas?
By dividing by 12
By adding 1
By converting to a decimal
By multiplying by 100
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the total amount in the account after earning simple interest?
Multiply the principal by the interest rate
Divide the principal by the interest rate
Add the earned interest to the principal amount
Subtract the interest from the principal
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes compound interest from simple interest?
Compound interest does not accumulate over time
Compound interest is only used for loans
Compound interest can earn interest on previously earned interest
Simple interest rates are always higher
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'n' variable represent in the compound interest formula?
The number of times interest is compounded per year
The principal amount
The total amount of interest earned
The interest rate as a decimal
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