Know the Formula
What is the formula for compound interest?
What is A= P(1+r /n)*tn
P = $1,000, r = 5%, n = 1, t = 2. Find A.
What is $1,102.50?
You earn $110.25 on $1,000 after 2 years. What’s the interest rate?
What is 5%?
You open a savings account with $500 at 4% compounded yearly. How much after 2 years?
What is $540.80?
True or False: Compound interest earns more than simple interest over time.
What is true
What does "A" stand for in the formula?
What is final amount
P = $500, r = 4%, n = 2, t = 1. Find A.
What is $520.20?
A = $1,215.51, P = $1,000, r = 10%, n = 1. Find t.
What is 2 years?
A college fund starts with $2,000 at 6%, compounded monthly for 3 years. What's A?
What is $2,395.90
Which grows faster: 6% compounded monthly or 6% annually?
What is 6% compounded monthly?
What does "P" stand for?
What is Principal
P = $800, r = 6%, n = 4, t = 2. Find A.
What is $900.89
A = $1,062.50, P = $1,000, n = 2, r = 6%. Find t.
What is one year?
An investment of $1,200 earns compound interest quarterly at 5% for 4 years. Find A.
What is $1,463.12
You invest $1,000 at 10% for 2 years. Simple interest = $200. Compound = ?
What is $1,210
What does "r" represent?
What is annual interest rate
P = $1,200, r = 3%, n = 1, t = 3. Find A.
What is $1,237.09?
You invested $900, and it became $1,200 in 3 years. Find r.
What is about 10%?
A loan of $1,500 grows to $1,800 in 3 years. Was this compound or simple interest?
What is compound?
How does increasing compounding frequency affect total amount?
What is it increases it?
What does "n" represent?
What is Number of times interest is compounded per year
P = $2,000, r = 5%, n = 2, t = 4. Find A.
What is $2,432.08?
A = $1,500, P = $1,000, t = 5 years, n = 1. Find r.
What is 8.45%?
A company saves $5,000 at 3% annually. How much after 5 years compounded yearly?
What is $5,796.38
P = $2,000 at 4% compounded daily for 2 years. Approx. A?
What is $2,169.86?