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 is invested at 4% simple interest per year. How much interest does it earn in 4 years?
$96
from “Simple Interest”
$600 is invested at 3% simple interest per year. How much interest does it earn in 4 years?
$72
from “Simple Interest”
$3000 is invested at 20% a year, compounded yearly. What is the balance after 3 years?
$5184
from “Compound Interest”
$2000 is invested at 10% a year, compounded yearly. What is the balance after 3 years?
$2662
from “Compound Interest”
$5000 is invested at 12% a year, compounded quarterly. What is the balance after 3 years?
$7128.80
from “Compounding More Than Once a Year”
$2000 is invested at 4% a year, compounded quarterly. What is the balance after 2 years?
$2165.71
from “Compounding More Than Once a Year”
$1000 is invested at 10% simple interest per year. What is the balance after 3 years?
$1300
from “Simple versus Compound Interest”
$2000 is invested at 10% a year for two years. How much more does compound interest pay than simple interest?
$20
from “Simple versus Compound Interest”