Simple & Compound Interest

Front

Lisa earned $20 in interest after leaving her money in the bank for 1 year at a 5% interest rate. How much did Lisa deposit?

Back

$400

Front

What does the t stand for in the simple interest equation?

Back

Time

Front

What does the r stand for in the simple interest equation?

Back

Rate (% as decimal)

Front

What does the P stand for in the simple interest equation?

Back

Principal

Front

What does the I stand for in the simple interest equation?

Back

Interest ($)

Front

Howard borrowed $4,000 from the bank at an interest rate of 8% for 2 years. How much interest will he pay?

Back

$640

Front

$5000 deposit earning 1.5% compounded quarterly after 3 years

Back

$5,229.70

Front

$13,500 deposit earning 3.3% compounded monthly after 1 year

Back

$13, 952.30

Front

$3400 principal earning 3.6% compounded annually after 2 years

Back

$3,649.21

Front

An investment of $9,875 earns 4.8% interest compounded monthly over 12 years. Approximately how much INTEREST is earned on the investment?

Back

$7,457.95