Simple Interest

Match the following variables to their term

• rate

• p

• interest

• I

• principal

• r

• time

• t

Match the following

• $ borrowed

• rate

• $ paid

• I=prt

• given as %, need to make decimal

• time

• given in years

• principal

• the formula

• interest

What is 15% as a decimal?

What is 7% as a decimal?

What is 4.3% as a decimal?

Which is the correct formula for finding simple interest?

• I=prt

• I=mpy

• S=prt

• S=mpy

What is 12% as a decimal?

What is 9% as a decimal?

What is 6.1% as a decimal?