Simple Interest

Flashcard
•
Life Skills
•
11th - 12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Convert the rate given as a percent (%) to a ______ before using it in the simple interest formula.
Back
decimal
2.
FLASHCARD QUESTION
Front
The principle in the simple interest formula I=Prt is:
Back
the amount of money borrowed or deposited
3.
FLASHCARD QUESTION
Front
Write the percent as a decimal: 4.3%
Back
.043
4.
FLASHCARD QUESTION
Front
Write the decimal as a percent: 0.37
Back
37%
5.
FLASHCARD QUESTION
Front
What does the "I" in the interest formula stand for?
Back
Interest
6.
FLASHCARD QUESTION
Front
Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?
Back
$26.25
7.
FLASHCARD QUESTION
Front
Calculate the interest. I = PRT, Principal = $1000, Rate = 6%, Time = 2 years
Back
$120
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