Simple Interest
What is the simple interest earned on $3,000 at 4.5% for 3 years
What is $405
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?
A=P(1+r)t
What is the compound interest formula?
$7,300 at 7% compounded annually for 2 years
8357.77
Interest earned or paid on principal 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?
$8,000 at 9% compounded annually for 2 years
What is $9504.80?
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 annually.
What is $1,050
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 Principal
$5,500 at 12% compounded annually for 2 years
What is $6899.20?
A fixed percent of the principal.
What is simple interest?
At the end of four years, what would the total savings be on a principal of $500 at 4% annual interest, using simple interest?
What is $580?
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?
$2000 at 3% compounded annually for 3 years
What is $2185.45?
The initial amount of money borrowed or saved.
What is principal?
If you deposited $500 for 2 years at 6% annual interest, compounded yearly, how much money would you have saved?
What is $561.80?