Simple Interest Basics
The formula for calculating Simple Interest
What is I = P x R x T
The definition of compound interest
What is earning interest on both principle and the previous earned interest?
The T stand for in simple interest formula
What is “Time”?
You invest $400 at 5% for 2 years, what is the simple interest rate?
What is $40?
Which grows faster: Simple or Compound?
What is Compound?
The ”P” stand for in the simple interest formula.
What is Principle
The formula for Compound Interest
What is A = P(1+r)^t
Define Principal
What is the total amount of money deposited or invested?
You invest $500 at 4% compound interest for 2 years, what is the final amount?
What is $540.80?
You double your money in 10 years, what is your annual interest rate (simple)?
What is 10%?
If you deposit $1000 at a 5% interest for 2 years, how much interest you earn?
What is $100
How often is interest compound annually?
What is once per year?
In compound interest, what does n stand for?
What is the number of times interest is compounded per year?
A loan earns $120 in interest over 3 years at 8%. What was the principal?
What is $500?
Find the compound amount for $800 at 10% compounded yearly for 3 years
What is $1,064?
You earn $75 interest after 3 years at a 5% rate, what was the principle?
What is $500
If you invest $1000 at 10% compound annually for 2 years, what is the total amount?
What is $1,210?
The difference between rate and time?
What is rate = the percentage of interest and time = the duration of money is invested or borrowed?
What is the total value after 3 years of $1,000 at 6% compounded annually?
What is 1,191.02?
You earned $144 interest after compound interest. The principal was $1,200 at 6% annually. How long was it invested?
What is 2 years?
If you want to earn $200 in interest in 4 years at a 2.5% what principle should you invest?
What is $2000
How much interest is earned if $500 grows to $605 in 2 years compound annually?
What is $105?
The full meaning of A = P(1+r/n)^t
What is A= total amount, P=Principal, r =rate, n=times per year, T = time in years
How long will it take to earn $300 in simple interest with $1,500 at 4%?
What is 5 years?
A loan with $1,000 principal compounded quarterly at 8% grows for 2 years. Find A
What is $1,169.86