Simple Interest

Front

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

Back

125

Front

Interest on $2,000 for 6 months at 12% annual simple interest rate?

Back

$120

Front

What does the t represent in the simple interest formula I=Prt?

Back

Time, in years

Front

Convert 18 months to years. 

Back

1.5 Years

Front

Write the decimal as a percent: 0.37

Back

37%

Front

Write the percent as a decimal: 4.3%

Back

.043

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___________. Options: fraction, decimal, percent, money

Back

money

Front

The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a ______. Options: fraction, decimal, ratio, dollar amount.

Back

decimal