Simple Interest
simple interest earned on $34,000 at 4% for 3 years
What is $4,080
I=Prt
What is the formula for simple interest?
$1,500 at 7% compounded annually for 3 years
What is $1,837.56?
The ability to understand how money works in the world
What is financial literacy?
Total value of $210 at 8% simple interest for 7 years
What is $327.60?
B=P(1+r/m)^mt
What is the compound interest formula?
$7,300 at 7% compounded annually for 7 years
What is $11,722.20
Interest earned or paid on principle AND previously earned or paid interest
What is compound interest?
If you deposited $500 for four years at 6% annual interest, compounded annually, how much money would you have saved?
What is $631.24?
Total value of investment of $4,000 at 3% simple interest for 4 years
What is $4,480.00?
The r in the simple and compound interest formula.
What is the annual interest rate?
$18,000 at 9% compounded semiannually for 6 years
What is $30,525.87?
The amount of money charged on money that is borrowed.
What is interest?
Find the amount of savings if $1,000 is deposited for one year at 5% annual interest, compounded quarterly.
What is $1,050.95?
Simple interest earned on $20,000 invested at 8% for 5 years.
What is $8,000
The P in the simple and compound interest formula
What is Principle
$55,000 at 16% compounded semiannually for 2 years
What is $74,826.89?
When interest is paid on only the principle.
What is simple interest?
At the end of one year, what would the balance be on a principal of $500 at 4% annual interest, compounded semi-annually?
What is $520.20?
Total value of investment of $14,000 at 6% for 9 years
What is $21,560.00?
The "t" in the simple interest formula
What is the time in years the money is invested?
$21,000 at 13.6% compounded quarterly for 4 years
What is $35,854.85?
The initial amount of money borrowed or saved.
What is principle?
If you deposited $500 for four years at 6% annual interest, compounded monthly, how much interest would you have made?
What is $135.24?