Simple and Compound Interest

Front

Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year

Back

$13.88

Front

What is the formula for simple interest?

Back

I=Prt

Front

Formula for calculating compound interest?

Back

Front

Mark got a 4-year simple interest loan for $1750 and paid back $2114. What was the interest rate?

Back

5.2%

Front

I deposited $46,875 into a simple interest account, and at the end of 1 year 8 months, the account had grown to $50,000. Find the rate of interest per year.

Back

4%

Front

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

Back

$26.25

Front

3-year investment of $20,000 with 5.2% interest compounded annually. What is the total return?

Back

$23,285.05

Front

A bank is offering 2.5% simple interest on a savings account. If you deposit $5,000, how much interest will you earn in three years?

Back

$375

Front

You borrowed $59,000 for 2 years at 11% compounded annually. What total will you pay back?

Back

$72,693.90

Front

3-year investment of $20,000 with 5.2% interest compounded annually. What is the total return?

Back

$23,285.05