Why does interest matter?
11.3 Simple Interest and Compound Interest

Interactive Video
•
Mathematics
•
11th Grade
•
Easy
Erni HT
Used 1+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
a. To help you understand your bank statement
b. To learn about saving and investing
c. Both a and b
d. None of the above
2.
OPEN ENDED QUESTION
3 mins • 3 pts
If you start with $100 in a savings account that offers 5% annual interest, how much would you have after 2 year with simple interest?
[Formula to find simple interest = P x R x T]
Evaluate responses using AI:
OFF
3.
OPEN ENDED QUESTION
3 mins • 3 pts
If you start with $100 in a savings account that offers 5% annual interest compounded annually, how much would you have after 2 years?
[Formula to find the amount received when using compound interest = P x (1+R)T
Evaluate responses using AI:
OFF
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the main advantage of compound interest over simple interest?
It's easier to calculate
It grows faster over time
It's better for borrowers
It's more common in banking
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of interest is generally better for debts and loans
Simple Interest
Compound Interest
They are equally good for debts and loans
It depends on the specific situation
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why is understanding the difference between simple and compound interest important?
a. To make informed decisions about saving and investing
b. To have a clearer picture of how your money is working for you
c. Both a and b
d. None of the above
Similar Resources on Wayground
10 questions
Compound Interest

Quiz
•
9th - 12th Grade
10 questions
Quiz: Compounding and Simple Interest

Quiz
•
9th - 12th Grade
12 questions
7.7 Practice - Simple & Compound Interest

Quiz
•
6th Grade - University
10 questions
Simple vs. Compound Interest: A Comparative Quiz for 8th Grade

Quiz
•
8th Grade - University
10 questions
Simple Interest / Compound Interest

Quiz
•
9th - 12th Grade
10 questions
SIMPLE AND COMPOUND INTEREST

Quiz
•
11th Grade
12 questions
simple interest

Quiz
•
9th - 12th Grade
10 questions
Understanding Interest Calculations

Quiz
•
11th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade