
Calculating Simple vs. Compound Interest

Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Hard
Standards-aligned

Mia Campbell
FREE Resource
Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of personal financial literacy discussed in the video?
Budgeting and saving
Understanding taxes
Calculating and comparing simple and compound interest
Investing in stocks
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What formula is used to calculate simple interest?
A = P(1 + rt)
I = P + rt
I = Prt
A = P(1 + r)^t
Tags
CCSS.8.EE.C.7B
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount in the context of interest calculation?
The total amount after interest
The initial amount of money invested or loaned
The rate of interest per year
The total interest earned or paid
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 't' represent in the simple interest formula I = Prt?
Total amount after interest
Time in years
Total interest
Transaction fees
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the rate converted into a decimal for calculation purposes?
Multiply by 100
Divide by 100
Subtract 100
Add a decimal point at the end
Tags
CCSS.3.NF.A.3C
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you invest $5000 at an annual interest rate of 7% for 5 years, how much simple interest will you earn?
$1750
$350
$700
$2500
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is compound interest often referred to as?
Variable interest
Principal interest
Interest on interest
Fixed interest
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