Simple Interest
I am the letter that represent interest.
What is the letter I?
I am the letter to represent annual interest rate (in decimal form).
What is the letter "r"?
I represent the "d" in calculating savings annuity.
What is deposit?
I am the early predecessor to one of today's most popular retirement accumulation vehicle.
What is tontine?
A human hair has a diameter of 0.000065 meters. Express this in scientific notation.
What is 6.5 * 10-5?
I am the "A" in calculating the principal and the interest.
What is the amount of money in an account at the end of a given time period?
I am the letter "k".
What is the number of compounding periods in a year?
The amount in your account after N years.
What is PN?
I am the type of growth rate that is tied to the stock market.
What is variable growth rate?
Determine whether y = 1200(1.05)x is linear, exponential, or logistic.
What is exponential modeling?
You borrowed $2000 from a relative. You promised to pay it back in 1 year at 3% simple interest. How much will you pay your relative?
What is $2060?
I represent being compounded semi-annually.
What is k = 2?
What are examples of savings annuity?
What is an IRA, 401K, or ...?
I am a type of accumulation annuity (deposit).
What is single premium, fixed premium, or variable premium?
How many inches are in 8 yards?
What is 288 inches?
Stella invests $10,000 at 0.45% simple interest for 5 years. The interest earned is?
What is $225?
Deposit $2,500 at 5.5% compounded quarterly for 4 years. Find the future value.
What is $3111.75?
What is a payout annuity?
I am the annuity that the investor begins to receive immediately upon investing.
What is immediate annuity?
Find the common ratio of the sequence: 2, -6, 18,...
What is -3?
How much must Simba invest at 5.1% simple interest to earn $250 in 18 months?
What is $3,267.97?
Which compounding period will yield the "best"?
What is daily?
NOTE: This is based upon our compounding periods, but continuous ranks higher.
Stan has determined he needs to have $1,000,000 for retirement in 40 years. His account earns 6% interest. How much would you need to deposit in the account each month?
What is $538.50?
I am a type of tax qualified retirement plan.
What is 401K, 403B, 457, SEP, traditional IRA, or Simple IRA?
Identify the model type (linear, exponential, logistic): A town gains 95 residents each year.
What is a linear model?