Simple Interest

Front

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

Back

the amount of money borrowed or deposited

Front

In the simple interest formula I=Prt, what does the t represent?

Back

Time

Front

0.37 as a percent

Back

37%

Front

What does the "I" in the interest formula stand for?

Back

Interest

Front

What does the "r" in the interest formula stand for?

Back

rate

Front

The Principal and Interest are always___________.

Back

money

Front

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

Back

$800

Front

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

Back

$6.75

Front

Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?

Back

12

Front

Find the interest: $26,500 at 12% for 7 years

Back

$22,260