The letter that is used to represent the number of compounding periods.
What is N?
100
The number of years it will take for your money to double at 8% interest
What is 9 years?
100
number used in monthly compounding
What is 12?
100
A bond that earns a fixed rate of interest for up to 30 years and is issued by the US Treasury Department. You can buy them at finanical institutions in your home town.
What is a EE savings bond?
200
The P in I = P x R x T
What is the Principal?
200
The letters that are used to represent the Present Value in a compounding interest problem?
What are P and V?
200
The number of years it will take for your money to double at 10% interest
What is 7.2 years?
200
number used in daily compounding
What is 365?
200
Savings accounts provided by local banks to assit people in saving money for holiday shopping.
What is a Christmas club?
300
R
What is Rate
300
The letters that are used to represent the Future Value in a compounding interest problem?
What are F and V?
300
The percentage rate needed to have your money double every 24 years.
What is 3%?
300
number used in quarterly compounding
What is 4?
300
Savings accounts are called this at Credit Unions
What are Share Accounts?
400
T = 1 / 12
What is monthly compounding?
400
Apps, Finance, TMV Solver
What buttons are used to open the compound interest application on a TI 84 Calculator?
400
You are currently 18 years old and you have $500 in a savings account earning 1% APR. You did not add any additional money to the account and it is now worth $1000. How old must you be now?
What is 90 years old
400
I = $1,000 x .01 x 1 (simple Interest)
I = ????
What is $10.00
400
CD
What is the two letter abbreviation for a certificate of deposit?
500
.27 (cents) = 5000 x .02 x 1 / 365
What is one day's interest on 5000 dollars @ 2% interest compounded daily?
500
Alpha, Enter
What buttons are used to solve a compound interest problem?
500
You are currently 20 years old (year 2013) and you have $500 in a savings account earning 6% APR. You did not add any additional money to the account and it is now worth $2000. What year is it?
What is the year 2037?
500
I = P x R x T
Compouded quarterly for 9 months
I = $1,000 x .01 x 1/?????
I = $
What is $1,007.52
500
IRA
What is the three letter abbreviations used for Individual Retirement Accounts?