Financial Literacy Question Preview (ID: 44830)


Questions About Interest, Money, Tuition Etc. TEACHERS: click here for quick copy question ID numbers.

What does the P stand for in the simple interest formula?
a) Principal
b) Mrs. Cochran
c) interest
d) dinosaur

What does the r stand for in the simple interest formula?
a) ravioli
b) Interest rate
c) really hard math
d) reflection

What does the t stand for in the simple interest formula?
a) toes
b) trace
c) time
d) temperature

Wht do you have to do to the interest rate before using it in a problem?
a) pay it
b) add it
c) subtract it
d) Change it to a decimal

The time in an interest problem must be in ...
a) years
b) hours
c) minutes
d) months

On the compound interest formula, where does the time go?
a) on a trip
b) Outside the parentheses as an exponent
c) with the + 1
d) nowhere...leave it out

the Principal is also know as the...
a) percent
b) Mrs. Cochran
c) money
d) Coach Moore

Simple interest formula only gives you the...
a) total
b) dinosaur
c) candy
d) interest

Compound interest only gives you the...
a) total
b) candy
c) dinosaur
d) interest

If using the exact same numbers, compound interest will always give you more money.
a) True, compound always gives more
b) False, they will be the same for the first year.
c)
d)

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