
Exploring the Mechanics of Compound Interest

Interactive Video
•
Mathematics
•
9th - 12th Grade
•
Hard
Standards-aligned

Liam Anderson
FREE Resource
Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is compound interest?
Interest calculated without adding the principal
Interest on the initial deposit and also on the accumulated interest from previous periods
A fixed amount of interest regardless of the deposit
Interest on the initial deposit only
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does annual compounding mean?
Interest is compounded every month
Interest is compounded daily
Interest is compounded every six months
Interest is compounded once a year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often is interest compounded in semiannual compounding?
Every month
Twice a year
Once a year
Every quarter
Tags
CCSS.HSF-LE.A.1C
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of more frequent compounding periods on the interest earned?
Increases the interest
Decreases the interest
No effect on the interest
Interest is only affected by the principal amount
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the example of Mila, what would her new balance be after one year with an annual compounding at 6% on a $1000 deposit?
$1,060.90
$1,006
$1,000
$1,060
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does quarterly compounding compare to semiannual compounding in terms of interest earned?
Both earn the same amount of interest
Quarterly earns less interest
Cannot be determined without the interest rate
Quarterly earns more interest
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the new balance after one day of daily compounding at 6% on a $1000 deposit?
$1,000.16
$1,000.06
$1,006.00
$1,000.60
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