Compound Interest
 Compound Interest:A  is the loan's future value (total value) Compound Interest:A  is the loan's future value (total value)P  is the Principal, the starting amount Compound Interest:A  is the loan's future value (total value)P  is the Principal, the starting amountr  is the interest rate Compound Interest:A  is the loan's future value (total value)P  is the Principal, the starting amountr  is the interest raten  is the number of compounding periods per year Compound Interest:A  is the loan's future value (total value)P  is the Principal, the starting amountr  is the interest raten  is the number of compounding periods per yeart  is time in years Compound Interest:A?P?n?r?t?  is the loan's future value (total value)  is the Principal, the starting amountis the interest rateis the number of compounding periods per yearis the time in years P = \$2,000r = 10%compoundingperiods = 4time = 3 yearsFind A, total inthe account if:A =         ( 1+        )\$2,000?10%?4?4*3? P = \$2,000r = 10%compoundingperiods = 4time = 3 yearsFind A, total inthe account if:A =         ( 1+        )Find A to the nearest penny\$2,000\$1995.73\$2017\$2689.78\$2874.8910%44*3 P = \$4,000r = 5%compoundingperiods = 3time = 2 yearsFind A, total inthe account if:A =         ( 1+        )\$4,000?5%?3?3*2? P = \$4,000r = 5%compoundingperiods = 3time = 2 yearsFind A, total inthe account if:A =         ( 1+        )Find A to the nearest penny:\$4,000\$4,014.75\$4,417.04\$4,765.22\$4,998.655%33*2 If SEMI-ANNUAL, it compounds            times per year.If it is QUARTERLY, it compounds 4 times per year.If it is MONTHLY, it compounds            times per year.If it is WEEKLY, it compounds            times per year.n tells you HOW MANY times the interestis compounded in a year If SEMI-ANNUAL, it compounds              times per year.If it is QUARTERLY, it compounds 4 times per year.If it is MONTHLY, it compounds              times per year.If it is WEEKLY, it compounds              times per year.n tells you HOW MANY times the interestis compounded in a year52122 Jacob saved \$24 at the Bank.  He got a 6% interest rate which compounds quarterly.What would his account be worth in 3 years?DaBankA =         ( 1+        )\$24?6%?4?4*3? Jacob saved \$24 at the Bank.  He got a 6% interest rate which compounds quarterly.What would his account be worth in 3 years?How Much\$\$\$ ?A =         ( 1+        )\$24 \$24.60 \$26.88 \$28.34 \$28.696%44*3 Jacob saved \$700 at the Bank.  He got a 4% interest rate which compounds monthly.What would his account be worth in 2 years?DaBankA =         ( 1+        )\$700?4%?type n value*2? Jacob saved \$700 at the Bank.  He got a 4% interest rate which compounds monthly.What would his account be worth in 2 years?CashCashCashCashA =         ( 1+        )\$700\$722.14\$758.20\$806.17 \$859.984%12 12*2 The End"Poundcake" is a compound word         "Compound" is not
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