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Simple Interest
Compound Interest
Compound Interest
Simple/Compound Interest
Vocab
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
$1,500 at 7% compounded annually for 3 years
What is $1,837.56?
100
Find the amount of savings if $1,000 is deposited for three years at 8% annual interest, compounded annually.
What is $1,259.71?
100

What is the principal?

Initial Amount 

200
$210 at 8% for 7 years
What is $327.60?
200
$1,030 at 4% compounded semiannually for 2 years
What is $1,114.91?
200
$7,300 at 7% compounded semiannually for 3 years
What is $8,973.56?
200
At the end of one year, what would be the total savings be on a principal of $500 at 4% annual interest, compounded annually?
What is $520.00?
200

What is the interest rate?

A percentage or decimal

300
$4,000 at 3% for 4 years
What is $4,480.00?
300
$12,700 at 8.8% compounded semiannually for 1 year
What is $13,842.19?
300
$18,000 at 9% compounded semiannually for 6 years
What is $30,525.87?
300
Find the amount of savings if $1,000 is deposited for one year at 5% annual interest, compounded every six months.
What is $1,050.63?
300

Which interest is better for a savings account?

Compound

400
$20,600 at 8% for 2 years
What is $23,896.00?
400
$28,600 at 7.9% compounded semiannually for 2 years
What is $33,393.66?
400
$55,000 at 16% compounded semiannually for 2 years
What is $74,826.89?
400
At the end of one year, what would the total savings be on a principal of $500 at 4% annual interest, compounded quarterly?
What is $520.30?
400

What is a loan?

When someone (a bank or financial institution) gives you money