Simple Interest

Front

Before using the rate in the simple interest formula, you must first convert it to a ______. Options: fraction, decimal, ratio, dollar amount.

Back

decimal

Front

Principal in the simple interest formula I=Prt

Back

the amount of money

Front

43.5% of this skeleton's body is his the mermaid tail. Write that percent as a decimal.

Back

.435

Front

What does the "I" in the interest formula stand for?

Back

Interest

Front

Alexton the Skeleton borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

Back

$1,200

Front

Pennywise puts $300 in a bank account earning 4% interest. How much will he earn in interest in 1 year?

Back

12

Front

Mr. Pham has $410,000 in a retirement account that earns 3.85% simple interest each year. Determine the amount earned each year by this investment.

Back

$15,785

Front

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

Back

$1392

Front

Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?

Back

$26.25

Front

Principal = $500
Interest earned in 4 years = $60.
Find the interest rate.

Back

3%