Simple and Compound Interest flashcards
8 practice cards drawn from the Simple and Compound Interest lessons. Tap a card to turn it over. Every answer is checked against the lesson it came from.
Read the Simple and Compound Interest lessons in full →
$600 at 4% simple interest per year. How much interest after 4 years?
$96
from “Simple Interest”
$600 at 3% simple interest per year. How much interest after 4 years?
$72
from “Simple Interest”
$3000 at 20% per year, compound. What is the balance after 3 years?
$5184
from “Compound Interest”
$2000 at 10% per year, compound. What is the balance after 3 years?
$2662
from “Compound Interest”
$5000 at 12% a year compounded quarterly. What is the balance after 3 years?
$7128.80
from “Compounding More Than Once a Year”
$2000 at 4% a year compounded quarterly. What is the balance after 2 years?
$2165.71
from “Compounding More Than Once a Year”
$1000 at 10% simple interest per year. What is the balance after 3 years?
$1300
from “Simple versus Compound Interest”
Same $2000, same 10% per year, two years. How much more does compound pay than simple?
$20
from “Simple versus Compound Interest”