Exploring Compound vs. Simple Interest
Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Practice Problem
•
Medium
Standards-aligned
Mia Campbell
Used 2+ times
FREE Resource
Standards-aligned
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount in an investment scenario?
$8,000
$9,000
$5,000
$3,000
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate expressed for calculation?
As a percentage
As a fraction
As a decimal
As a whole number
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes compound interest from simple interest?
Interest on principal only
Interest on interest
Decreasing interest rate
Fixed interest amount
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating simple interest?
I = PRT
A = P(1 + RT)
I = PTR/100
A = P + I
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' stand for in the simple interest formula?
Percentage
Profit
Payment
Principal
Tags
CCSS.8.EE.C.7B
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much simple interest is earned on $3,000 at 6% over 5 years?
$2,000
$900
$1,000
$1,800
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for compound interest?
A = P(1 + R)^T
I = PRT
I = P(1 + RT)
A = P + I
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