Simple Interest

Front

What is the simple interest formula?

Back

I=prt

Front

How do you calculate the balance in an account, with interest? Options: Subtract the interest from the principle amount, Multiply the principle, rate and time, Add the interest to the principle amount, Add the principle amount and the time

Back

Add the interest to the principle amount

Front

Before the simple interest formula can be used, what form does the rate need to be in? Options: decimal, years, percent, months

Back

decimal

Front

Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.

Back

$337.50

Front

Balance on a $250 account with 3% simple interest over 7 years.

Back

$302.50

Front

Determine the simple interest earned: p= $2000 r= 4.6% t= 4 years

Back

$368.00

Front

Christian opened a savings account with $3250. His account will earn 5.2% simple interest. How much money will be in his account after 6 years?

Back

$4,264.00

Front

Determine the balance with interest: p= $5375, r= 6.3%, t= 2 years

Back

$6,052.25

Front

Alexis opened an account with $35. The account earns simple interest at a rate of 8.6%. How much money will her account have in 4 years?

Back

$47.04

Front

Ending balance of an account with $42,000 earning simple interest at 3% for 5 years?

Back

$48,300.00