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 Interactive Checkpoint
 Interest:  The percent of the money on deposit (the principal) paid to a lender for the use of the principle.

Answer the following questions about interest.
Enter each answer below and press tab to check.
Graded Response

a) How much interest will a $1000 account earn after one year if it compounds yearly with a 5% rate?

 

a) $

b) What is the principal on an account that earns $30 interest after one year if it compounds yearly with a 6% rate?

 

b) $
c) What is the yearly simple interest rate on a $5000 account that earns $100 interest after six months. c) %