HOLUB- Simple and Compound Interest

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.
Simple Interest rate = 2.5%
Time = 3 years.
How much interest?

Back

$26.25

Front

In the simple interest formula I=Prt, what does the t represent?

Back

Time

Front

You borrowed 43,800 at a SIMPLE interest rate of 4.8%. If you pay it back in 2 years, how much interest is paid back?

Back

$4204.8

Front

Convert 18 months to years. 

Back

1.5 Years

Front

Write the decimal as a percent: 0.37

Back

37%

Front

Write the percent as a decimal: 4.3%

Back

.043

Front

Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

Back

$3727.50

Front

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

Back

divide the months by 12

Front

The Henley’s took out a new home loan for $195,000 at a simple interest rate of 4.3%. How much will they pay in interest after 30 years?

Back

$251,550