Analyze and Solve Percent Problems

Front

What is simple interest?

Back

Simple interest is calculated using the formula: Interest = Principal × Rate × Time, where Principal is the initial amount of money, Rate is the interest rate per year, and Time is the number of years.

Front

How do you calculate the interest earned on a Certificate of Deposit (CD)?

Back

To calculate the interest earned on a CD, use the formula: Interest = Principal × Rate × Time.

Front

If you deposit $700 in a CD account with a 1.8% interest rate for 6 years, how much interest will you earn?

Back

$75.60

Front

What is the formula to find the principal amount when given interest, rate, and time?

Back

Principal = Interest / (Rate × Time)