Compound Interest (notes)
Presentation
•
Mathematics
•
8th Grade
•
Practice Problem
•
Hard
Standards-aligned
Sarah Bustamante
Used 13+ times
FREE Resource
4 Slides • 4 Questions
1
earnings paid on the principal and the accumulation of interest from previous periods.
2
A=P(1+r)t
A = amount
Total balance
P = principal
Amount of money started with ($)
R = rate
(%) as a decimal
T = time
Time in years
3
Ex. 1) Rachel deposited $10 in an account earning 5% interest compounded annually. To the nearest cent, how much will she have in 3 years?
A=P(1+r)t
A=
A=
4
Fill in the Blanks
Ex. 2) Spencer deposited $18 in an account earning 4% interest compounded annually. To the nearest cent, how much will he have in 9 years? (DO NOT put a $ or a comma)
Type answer...
5
Fill in the Blanks
Ex. 3) Andy has $1,000 in an account. The interest rate is 15% compounded annually. To the nearest cent, how much will he have in 2 years? (DO NOT put a $ or a comma)
Type answer...
6
Ex. 4) Brooke has $7 in an account that earns 10% interest compounded annually. To the nearest cent, how much interest will she earn in 2 years?
A=P(1+r)t
A=
A=
Interest earn(ed) = A - P
I =
I =
7
Fill in the Blanks
Ex. 5) Ayana has $730 in an account. The interest rate is 3% compounded annually. To the nearest cent, how much interest will she earn in 3 years? (DO NOT put a $ or a comma)
Type answer...
8
Fill in the Blanks
Ex. 6) Nina has $63,071.45 in an account. The interest rate is 14% compounded annually. To the nearest cent, how much will be her interest in 5 years? (DO NOT put a $ or a comma)
Type answer...
earnings paid on the principal and the accumulation of interest from previous periods.
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