What does the 'r' in the interest formula stand for?
Simple Interest

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Mathematics
•
University
•
Hard
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14 questions
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1.
FLASHCARD QUESTION
Front
Back
rate
2.
FLASHCARD QUESTION
Front
The Principal and Interest are always___________.
Back
money
3.
FLASHCARD QUESTION
Front
Starting money = $350. Interest rate = 2.5% Time = 3 years. How much interest?
Back
$26.25
4.
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
5.
FLASHCARD QUESTION
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
6.
FLASHCARD QUESTION
Front
What is the formula for calculating Simple Interest?
Back
Simple Interest = Principal × Rate × Time
7.
FLASHCARD QUESTION
Front
If the Principal is $500 and the interest rate is 4% for 5 years, what is the total interest earned?
Back
$100
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