Compare Interest
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
Student preview
15 questions
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1.
FLASHCARD QUESTION
Front
What is the formula to convert months to years?
Back
To convert months to years, divide the number of months by 12.
2.
FLASHCARD QUESTION
Front
How many years are in 60 months?
Back
5 years.
3.
FLASHCARD QUESTION
Front
What is the value of a Certificate of Deposit (CD) after 4 years if $8,000 is invested at 4.1% interest compounded annually?
Back
$9,394.92.
4.
FLASHCARD QUESTION
Front
What is the formula for calculating the future value of an investment with compound interest?
Back
A = P(1 + r)^t, where A is the amount, P is the principal, r is the interest rate, and t is the time in years.
5.
FLASHCARD QUESTION
Front
How do you convert a percentage to a decimal for interest calculations?
Back
Divide the percentage by 100.
6.
FLASHCARD QUESTION
Front
How many years are in 18 months?
Back
1.5 years.
7.
FLASHCARD QUESTION
Front
What is the interest earned on a $5,000 deposit at 4% interest compounded annually after 3 years?
Back
Use the formula A = 5,000(1 + 0.04)^3.
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