Module 7 — Simple and Compound Interest
Use this if simple and compound interest are mixing formulas or time units.
Identify the annual rate, time in years, and how often interest compounds.
Simple interest is proportional to time; compound interest adds interest on accumulated interest.
Future value, present value, and effective rate are different requests.
What is the main difference between simple and compound interest?
Compound interest earns interest on previously accumulated interest; simple interest does not.
Got it now? Scroll back up and re-read the section — it should land differently.
Counts and mappings come from .ai/students/alaina/math1330/assignments/index.json. These are task maps, not answer keys.
| WebAssign set | Questions | Textbook sections |
|---|---|---|
| 1330 W - SI | 19 | §3.1, §3.2 |
| 1330 W - CI | 35 | §3.1, §3.2 |
Calculate simple interest.
Relate present value and future value under simple interest.
Calculate future value under compound interest.
Calculate present value under compound interest.
Compare nominal and effective rates.
