Simple Interest

Front

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

Back

rate

Front

Determine the simple interest earned: p= $2000, r= 6%, t= 4 years

Back

$480.00

Front

Find the interest: $26,500 at 12% for 7 years

Back

$22,260

Front

If you put $5000 in a savings account that pays 2% annual interest, how much money will you have at the end of the year in interest?

Back

$100

Front

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

Back

the amount of money borrowed or deposited

Front

What is the formula for calculating simple interest?

Back

I = P * r * t

Front

If the principal is $1000, the rate is 5%, and the time is 3 years, what is the simple interest?

Back

$150

Front

What is the total amount after earning simple interest of $200 on a principal of $1000?

Back

$1200

Front

If you invest $1500 at a rate of 4% for 5 years, how much interest will you earn?

Back

$300

Front

What happens to the simple interest if the time period is doubled?

Back

The simple interest will also double.