Week 11 - Simple and Compound Interest
0.0(0)
Studied by 0 people
Knowt Play
Learn
Practice Test
Spaced Repetition
Match
FlashcardsCard Sorting
1/5
Earn XP
Description and Tags
Vocabulary flashcards for Week 11 covering simple and compound interest.
Study Analytics
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
6 Terms
1
New cards
Simple Interest
Interest calculated only on the initial principal, not on previously earned interest.
2
New cards
Compound Interest
Interest earned on both the principal and on accumulated interest from prior periods.
3
New cards
Principal
The original amount of money invested or loaned, before any interest.
4
New cards
Interest Rate
The percentage by which money grows per time period.
5
New cards
Time
The length of time money is invested or borrowed.
6
New cards
Amount (A)
Total value after interest accrues; for simple interest A = P(1 + rt) and for compound interest A = P(1 + r/n)^(nt).
Note 
Flashcards (107)