Simple Interest
Compound Interest
Terms and Formulas
Simple/Compound Interest 1
Simple/Compound Interest 2
100
$34,000 at 4% for 3 years
What is $38,192.00?
100
$1,240 at 8% compounded annually for 2 years
What is $1,446.34?
100
The formula for simple interest?
What is I=prt
100
Find the total amount if $1,000 is deposited for three years at 8% annual interest, compounded annually.
What is $1,259.71?
100
At the end of two years, how much interest would be on a principal of $1,000 at 6% annual interest, compounded annually?
What is $123.60
200
$210 at 8% for 7 years
What is $327.60?
200
$1,030 at 4% compounded annually for 2 years
What is $1,114.05?
200
What is the Principle?
What is the initial amount invested
200
At the end of one year, what would be the total on a principal of $500 at 4% annual interest, compounded annually?
What is $520.00?
200
If you deposited $500 for four years at 6% annual interest, compunded annually, how much interest would you earn?
What is $131.24?
300
$4,000 at 3% for 4 years
What is $4,480.00?
300
$12,700 at 8.8% compounded annually for 1 year
What is $13,817.60?
300
The compound interest formula?
300
Find the total if $1,000 is deposited for one year at 5% annual interest, compounded annually.
What is $1,050?
300
Find the amount of interest if $1,000 is deposited for one year at 5% simple interest.
What is $50?
400
$20,600 at 8% for 2 years
What is $23,896.00?
400
$28,600 at 7.9% compounded annually for 2 years
What is $33,297.29?
400
What does the “t” stand for in the simple and compound interest formulas and what are the units of t?
What is time, and the units are years.
400
At the end of one year, what would the total be on a principal of $500 at 4% annual interest, compounded annually?
What is $520?
400
At the end of one year, what would be the interest on a principal of $500 at 4% simple interest.
What is $20?
500
$14,000 at 6% for 9 years
What is $21,560.00?
500
$130 at 9.4% compounded annually for 2 years
What is $155.59?
500
What does “r” stand for in the formulas?
What is the interest rate
500
At the end of two years, what would the total be on a principal of $1,000 at 6% annual interest, compounded annually?
What is $1,123.60?
500
If you deposited $500 for four years at 6% simple interest, what would the total be?
What is $620?