What does the 'P' in the simple interest formula I = PRT stand for?

Future Value and Simple Interest Concepts

Interactive Video
•
Mathematics
•
9th - 10th Grade
•
Hard

Thomas White
FREE Resource
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9 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Period
Principal
Percentage
Profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the simple interest formula, what does 'T' represent?
Time in years
Transaction fee
Total amount
Tax rate
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you convert 36 months into years for the simple interest formula?
Multiply by 12
Subtract 12
Divide by 12
Add 12
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the future value formula derived from the simple interest formula?
A = I/P
A = PRT
A = P(1 + RT)
A = P + I
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you invest $100 at a 12% interest rate for 2 years, what is the simple interest earned?
$12
$36
$24
$48
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the principal amount if the simple interest is $600, the rate is 5%, and the time is 4 years?
$6,000
$5,000
$4,000
$3,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How long was the money invested if the interest earned is $2,464, the principal is $7,700, and the rate is 8%?
5 years
4 years
3 years
2 years
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Using the future value formula, what is the future value of $1,900 invested at 3% for 5 years?
$2,300
$2,185
$2,500
$2,000
9.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the future value is $1,944, the rate is 4%, and the time is 2 years, what was the principal amount?
$1,900
$1,850
$1,800
$1,950
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