PERCENT TEST Review

Front

What is the first step to use a percent (%) in the simple interest formula?

Back

Convert it to a decimal.

Front

How much interest does Jerry pay on a $4,000 loan at a 6% simple interest rate for 5 years?

Back

$1,200

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

If a baseball pitcher won 80% of the 35 games he pitched, how many games did he win?

Back

28 games

Front

What is the interest paid on a loan of $25,690 at a simple interest rate of 5.2% after 5 years?

Back

$6,679.40

Front

What does the term 'principal' mean in finance?

Back

The principal is the initial amount of money borrowed or invested.

Front

How do you convert a percentage to a decimal?

Back

Divide the percentage by 100.

Front

What is the simple interest earned on a $1,000 investment at a 4% interest rate for 3 years?

Back

$120

Front

What is the relationship between percent, decimal, and fraction?

Back

Percent is a part per hundred, decimal is a fraction expressed in base 10, and fraction is a part of a whole.

Front

If a student scores 90% on a test with 50 questions, how many questions did they answer correctly?

Back

45 questions