Compound Interest

Front

What does P represent in the equation A=P(1+r)^t? Options: rate, principal, time, amount

Back

principal

Front

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

Back

$831.10

Front

You borrowed $59,000 for 2 years at 11% compounded annually. What is the total?

Back

$72,693.90

Front

Expression to determine how much money Krystal had after 16 years with $3000 invested at a 2% interest rate.

Back

Front

In the compound interest formula A=P(1+r)^t, what does the A stand for?

Back

The total amount

Front

Julia invested $1000 for college in an account earning 5% compounded annually. When she checked the account after 4 years, how much money did she find in the account?

Back

$1215.51

Front

6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

Back

$87,798.90

Front

You invested $1,900 at 4% interest compounded annually for 3 years. How much interest did you earn in 3 years?

Back

$237.24

Front

Loan of $175,000: Which costs less? A) Simple Interest 4.17% for 15 years B) Compound Interest 3.5% for 15 years

Back

Simple Interest 4.17% for 15 years

Front

Difference in interest for $2,500: 8.25% simple interest for 2 years vs. 6.5% compounded annually for 2 years.

Back

$76.94