What is the primary goal of the mathematics of money series?

Exploring Simple, Compound, and Continuous Interest

Interactive Video
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Mathematics
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9th - 12th Grade
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Hard

Emma Peterson
Used 2+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To discuss only the economics of investments
To promote financial products
To explore the mathematical foundations of financial concepts
To simplify financial concepts without deep mathematical insights
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does the lender charge interest?
Because it is a legal requirement
To cover the risk of not being repaid
To solely benefit from the borrower's hardship
To increase their wealth without reason
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'P' represent in the simple interest formula?
Period of the loan
Principal amount of the loan
Profit gained from the interest
Percentage rate of the interest
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is compound interest different from simple interest?
Compound interest accumulates interest on the initial principal only
Compound interest accumulates interest on both the initial principal and accrued interest
Compound interest only applies to long-term loans
There is no difference; both are calculated in the same way
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 't' represent in the compound interest formula?
Total interest accrued
Time period in years
Transaction number
Total principal amount
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of increasing the number of compounding periods per year on the total amount owed?
It increases the total amount owed
It resets the interest rate to zero
It has no effect on the total amount owed
It decreases the total amount owed
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the societal convention for expressing interest rates?
Interest rates are shown as daily rates
Interest rates are always shown as monthly rates
Interest rates are expressed as annual rates
There is no convention; rates are randomly expressed
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