Simple and Compound Interest

Front

Which interest is computed on the principal and then added to it?

Back

simple

Front

The simple interest formula is I_s = Prt. What does the t represent?

Back

time

Front

What is not used to find simple interest? Options: principal, rate of interest, time, future value

Back

future value

Front

Amount after t years that the lender will receive from the borrower.

Back

Future Value

Front

Rate of interest must be converted into _________ before substituting to the formula of finding the interest.

Back

Decimal

Front

Formula to determine the amount of borrowed money given: Jenny invested at 1.05% simple interest for 3 years, charged ₱472.50 for interest.

Back

Front

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱472.50 for interest. How much money will Jenny invest? Options: ₱ 1,500.00, ₱ 15,000.00, ₱ 150,000.00, ₱ 600,000.00

Back

₱ 600,000.00

Front

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱472.50 for interest. How much is her accumulated money after 3 years? Options: ₱ 1,947.50, ₱ 15,472.50, ₱ 150,472.50, ₱ 600,472.50

Back

₱ 600,472.50

Front

Jenny invested money at Lucena Cooperative Bank at 1.5% interest for 3 years. How much interest will she gain?

Back

₱ 325.00

Front

Jenny invested money from Lucena Rural Bank at 1.05% simple interest for 3 years. It was charged ₱472.50 for interest. If Jenny invested the same amount of money at Lucena Cooperative Bank who is offering an interest rate of 1.5% for 3 years, how much will she accumulate in 3 years? Options: ₱ 15,325.00, ₱ 15,425.00, ₱ 15,625.00, ₱ 15,675.00

Back

₱ 15,325.00