simple interest

Flashcard
•
6th - 8th Grade
•
Hard
Wayground Content
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49 questions
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1.
FLASHCARD QUESTION
Front
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.
Back
decimal
2.
FLASHCARD QUESTION
Front
The principle is ___________________.
Back
the amount of money borrowed or deposited
3.
FLASHCARD QUESTION
Front
Starting money = $350.
Interest rate = 2.5%
Time = 3 years.
How much interest?
Back
$26.25
4.
FLASHCARD QUESTION
Front
Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?
Back
The interest is $1200.
5.
FLASHCARD QUESTION
Front
The simple interest formula is I=Prt. What does the t represent?
Back
Time, in years
6.
FLASHCARD QUESTION
Front
What does the "r" in the interest formula stand for? Options: Principal, Interest, rate, time
Back
rate
7.
FLASHCARD QUESTION
Front
What does the "I" in the interest formula stand for?
Back
Interest
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