Definitions
In the formula for a compound interest equation, this is what the P stands for
What is Initial Principal Balance
Gabe opened a savings account and deposited $600.00. The account earns 3% interest, compounded annually. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?
What is 655.64
Amount of pictures on the first slide
what is 4
This is what the R stands for
What is Interest Rate
Laura opened a savings account and deposited $100.00 as principal. The account earns 12% interest, compounded annually. What is the balance after 5 years?
What is 176.23
What is 14
This is what the N stands for
What is Number of times interest applied in a period of time
Chad puts $400.00 into an account to use for school expenses. The account earns 14% interest, compounded annually. How much will be in the account after 6 years?
What is 877.99
Background of 4th slide
What is hearts
This is what the T stands for
What is Number of time periods elapsed.
Alex opened a savings account and deposited $400.00 as principal. The account earns 10% interest, compounded annually. What is the balance after 10 years?
1,037.50
Last word of entire presentation
What is screen
The formula for compound interest equations
What is A=P(1+r/n)nt
Nicole opened a savings account and deposited $1,000.00. The account earns 1% interest, compounded annually. If she wants to use the money to buy a new bicycle in 3 years, how much will she be able to spend on the bike?
What is 1,030.30
The clothing the person in the last picture was wearing
What is Suit & Bowtie