Simple Interest

In the formula I = PRT, what does the I stand for?

• Interest

• Principal

• Rate

• Time

Tags

CCSS.6.EE.B.7

In the formula I = PRT, what does the P stand for?

• Interest

• Time

• Rate

• Principal

Tags

CCSS.6.EE.B.7

In the formula I = PRT, what does the R stand for?

• Time

• Rate

• Interest

• Principal

Tags

CCSS.7.RP.A.3

In the formula I = PRT, what does the T stand for?

• Rate

• Principal

• Time

• Interest

Tags

CCSS.7.RP.A.3

How to you calculate the balance of an account using the simple interest formula?

• Calculate the interest and add it to the principal

• Calculate the interest and subtract it from the principal

• Calculate the rate and add it to the interest

• Calculate the time and add it to the principal

Tags

CCSS.7.RP.A.3

Before I can calculate anything using the simple interest formula I must first ____________________

• Determine my interest

• Convert my rate to a decimal

• Determine my balance

• Call my financial advisor for help

Tags

CCSS.7.RP.A.3

Julie invested $100 at a rate of 6% for 10 years. How much interest did she earn?

• $20

• $160

• $40

• $60

Tags

CCSS.7.RP.A.3

Dan invested $1000 at a rate of 7% for 20 years. What is the balance on the account at the end of the 20 years?

• $1400

• $3400

• $2400

• $4400

Tags

CCSS.HSF.BF.A.2

Lisa invested $500 at a rate of 4% for 40 years. What is the interest earned at the end of the 40 years?

• $20

• $500

• $520

• $800

Tags

CCSS.7.RP.A.3

Jake invested $1000 at 5% and earned $200 in interest. How long was the money in the account?

• 4 years

• 6 years

• 2 years

• 10 years

Tags

CCSS.6.EE.B.7