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Solve problems involving compound interest.
Remarks
Example: Find the amount of money on deposit at the end of 5 years if you started with $500 and it was compounded quarterly at 6 % interest. Example: Joe won $25,000 in the lottery. How many years will it take at 6% interest compounded yearly for his money to double?General Information
Subject Area: X-Mathematics (former standards - 2008)
Grade: 912
Body of Knowledge: Financial Literacy
Idea: Level 3: Strategic Thinking & Complex Reasoning
Standard: Simple and Compound Interest - Simple and Compound Interest
Date Adopted or Revised: 09/07
Content Complexity Rating:
Level 3: Strategic Thinking & Complex Reasoning
-
More Information
Date of Last Rating: 06/07
Status: State Board Approved - Archived
Related Courses
This benchmark is part of these courses.
1200500: Advanced Algebra with Financial Applications (Specifically in versions: 2014 - 2015 (course terminated))
7912105: Fundamental Consumer Mathematics (Specifically in versions: 2013 - 2015, 2015 - 2017 (course terminated))
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