Percents Interest

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

Find the total amount of interest if interest is compounded annually (once a year). Principle of $2750 at 8% for 2 years. (round to the nearest cent)

• $220.50

• $457.60

• $660.60

• $237.60

The simple interest formula is i = P r t

What does the t represent?

• Principle

• Interest Rate

• Number of times interest is compounded

• Number of years

Calculate the Simple Interest:

Principle : $350

Interest Rate : 2.5%

Time : 3 years

• $7.50

• $26.25

• $87.50

• $262.50

If 30% of a number is 45, what is the number?

• 120

• 150

• 90

• 75

If 15% of a number is 30, what is the number?

• 100

• 150

• 250

• 200

If 45% of a number is 90, what is the number?

• 150

• 200

• 250

• 300

What is 40% of 250?

• 200

• 100

• 60

• 150

What is 30% of 150?

• 45

• 50

• 55

• 60

The simple interest formula is i = P r t

The P represents the principle. Principle means . . .

• the amount of money borrowed or deposited

• the percent interest for this year

• the amount taxed

• the amount the bank awards you for being a customer at their bank