Simple Interest

Front

Write the percent as a decimal: 5%

Back

.05

Front

Tina invested $2,000 in a simple interest account at 8% for 5 years. What is the interest earned?

Back

$800

Front

Emilio borrows $1200 from a bank with 8.5% simple interest per year. How much will he have to pay back total in 2 years?

Back

$1,404

Front

The principal in the simple interest formula I=Prt is:

Back

the amount of money borrowed or deposited

Front

How to convert time from months to years when calculating simple interest?

Back

Write the months as a fraction with 12 as the denominator.

Front

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

Back

125

Front

Jenna borrowed $5,000 for 3 years and paid $1,350 simple interest. What rate of interest did she pay?

Back

9%

Front

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

Back

$120

Front

Write the percent as a decimal: 4.3%

Back

.043

Front

Anna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest? Options: 5 years, 8 years, 10 years, 9 years

Back

9 years