Task 4: Unit 2: Lesson 4: Compound Interest

Froggy Jumps

Test your knowledge on compound interest and how it works!

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Froggy Jumps Task 4: Unit 2: Lesson 4: Compound InterestVersion en ligne Test your knowledge on compound interest and how it works! par Kristine Vester 1 What is compound interest? a Interest earned only on the principal. b Interest earned on the principal and previously earned interest. c A fee charged for borrowing money. 2 How does compound interest grow over time? a It decreases over time. b It remains constant. c It adds up as interest is calculated on interest. 3 Why is compound interest beneficial for savings? a It has no effect on savings. b It allows your money to grow faster over time. c It reduces the amount saved. 4 What is the interest rate if an investor wants to double their money in 6 years? a 10% b 12% c 8% 5 Using the rule of 72, what is the doubling time for a 4% interest rate? a 18 years b 24 years c 12 years 6 If you want to double your investment in 10 years, what interest rate do you need? a 7.2% b 8% c 6% 7 If you have an investment with a 9-year doubling time, what is the interest rate? a 9% b 8% c 7% 8 What is the Rule of 72 used for? a Estimating the time to double an investment. b Determining stock prices. c Calculating interest rates. 9 What is the formula for the Rule of 72? a 72 minus the annual interest rate. b 72 multiplied by the annual interest rate. c 72 divided by the annual interest rate. 10 What type of interest does the Rule of 72 primarily apply to? a Fixed interest. b Compound interest. c Simple interest. 11 What is the main benefit of using the Rule of 72? a Calculating taxes owed. b Quickly estimating investment growth. c Determining loan payments. 12 What does the Rule of 72 estimate? a The total investment amount. b The time to double an investment. c The interest rate needed. 13 If an investment has a 6% return, how long to double? a 15 years. b 10 years. c 12 years. 14 What interest rate gives a doubling time of 9 years using the Rule of 72? a 6%. b 10%. c 8%. 15 Who gets credit for inventing the Rule of 72? a Albert Einstein b Dave Ramsey c Susie Orman 16 Why is calculating the time value of money important? a It determines the best savings account. b It helps in budgeting monthly expenses. c It allows comparison of future money value with present money value. 17 What does inflation indicate? a A temporary rise in stock prices. b A sustained increase in the general price level of goods and services. c A decrease in the value of currency. 18 How does inflation affect the time value of money? a It increases the value of future investments. b It has no effect on money value. c It decreases the purchasing power of future money. 19 Which of the following is a factor in calculating the time value of money? a Tax rates. b Interest rates. c Employment rates. 20 What is the primary purpose of understanding the time value of money? a To predict stock market trends. b To calculate monthly expenses. c To make informed financial decisions. 21 What happens to money's value over time due to inflation? a It remains the same. b It increases significantly. c It generally decreases.

Froggy Jumps

Task 4: Unit 2: Lesson 4: Compound InterestVersion en ligne

Test your knowledge on compound interest and how it works!

par Kristine Vester

What is compound interest?

Interest earned only on the principal.

Interest earned on the principal and previously earned interest.

A fee charged for borrowing money.

How does compound interest grow over time?

It decreases over time.

It remains constant.

It adds up as interest is calculated on interest.

Why is compound interest beneficial for savings?

It has no effect on savings.

It allows your money to grow faster over time.

It reduces the amount saved.

What is the interest rate if an investor wants to double their money in 6 years?

10%

12%

Using the rule of 72, what is the doubling time for a 4% interest rate?

18 years

24 years

12 years

If you want to double your investment in 10 years, what interest rate do you need?

7.2%

If you have an investment with a 9-year doubling time, what is the interest rate?

What is the Rule of 72 used for?

Estimating the time to double an investment.

Determining stock prices.

Calculating interest rates.

What is the formula for the Rule of 72?

72 minus the annual interest rate.

72 multiplied by the annual interest rate.

72 divided by the annual interest rate.

What type of interest does the Rule of 72 primarily apply to?

Fixed interest.

Compound interest.

Simple interest.

What is the main benefit of using the Rule of 72?

Calculating taxes owed.

Quickly estimating investment growth.

Determining loan payments.

What does the Rule of 72 estimate?

The total investment amount.

The time to double an investment.

The interest rate needed.

If an investment has a 6% return, how long to double?

15 years.

10 years.

12 years.

What interest rate gives a doubling time of 9 years using the Rule of 72?

6%.

10%.

8%.

Who gets credit for inventing the Rule of 72?

Albert Einstein

Dave Ramsey

Susie Orman

Why is calculating the time value of money important?

It determines the best savings account.

It helps in budgeting monthly expenses.

It allows comparison of future money value with present money value.

What does inflation indicate?

A temporary rise in stock prices.

A sustained increase in the general price level of goods and services.

A decrease in the value of currency.

How does inflation affect the time value of money?

It increases the value of future investments.

It has no effect on money value.

It decreases the purchasing power of future money.

Which of the following is a factor in calculating the time value of money?

Tax rates.

Interest rates.

Employment rates.

What is the primary purpose of understanding the time value of money?

To predict stock market trends.

To calculate monthly expenses.

To make informed financial decisions.

What happens to money's value over time due to inflation?

It remains the same.

It increases significantly.

It generally decreases.

Task 4: Unit 2: Lesson 4: Compound Interest

Froggy Jumps

Téléchargez la version pour jouer sur papier

Créé par

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Froggy Jumps

Task 4: Unit 2: Lesson 4: Compound InterestVersion en ligne

par Kristine Vester

What is compound interest?

How does compound interest grow over time?

Why is compound interest beneficial for savings?

What is the interest rate if an investor wants to double their money in 6 years?

Using the rule of 72, what is the doubling time for a 4% interest rate?

If you want to double your investment in 10 years, what interest rate do you need?

If you have an investment with a 9-year doubling time, what is the interest rate?

What is the Rule of 72 used for?

What is the formula for the Rule of 72?

What type of interest does the Rule of 72 primarily apply to?

What is the main benefit of using the Rule of 72?

What does the Rule of 72 estimate?

If an investment has a 6% return, how long to double?

What interest rate gives a doubling time of 9 years using the Rule of 72?

Who gets credit for inventing the Rule of 72?

Why is calculating the time value of money important?

What does inflation indicate?

How does inflation affect the time value of money?

Which of the following is a factor in calculating the time value of money?

What is the primary purpose of understanding the time value of money?

What happens to money's value over time due to inflation?