Simple Interest Review

Front

What is the formula for simple interest?

Back

I=Prt

Front

What does the P in I=Prt mean?

Back

Principal

Front

What does the r in I=Prt mean?

Back

Rate

Front

What does the t mean in I=Prt?

Back

Time, in years

Front

Write the percent as a decimal: 4.3%

Back

.043

Front

Write the percent as a decimal: 17%

Back

.17

Front

Write the percent as a decimal: 28.2%

Back

.282

Front

Before using a rate given as a percent (%) in the simple interest formula, you must first convert it to a:

Back

decimal

Front

Find the simple interest for $2000 at 9% interest for 4 years.

Back

720

Front

Find the simple interest for $8000 at 16% for 1 year.

Back

1280