6.5-6.7 Review

Front

What is simple interest?

Back

Simple interest is calculated using the formula: I = P * r * t, where I is the interest, P is the principal amount, r is the rate of interest per year, and t is the time in years.

Tags

CCSS.HSF-IF.C.8B

Front

How do you calculate the total amount to be repaid on a loan with simple interest?

Back

Total Amount = Principal + Interest. Interest can be calculated using the formula: I = P * r * t.

Tags

CCSS.7.RP.A.3

Front

What is the formula to calculate the interest rate if you know the interest earned, principal, and time?

Back

Interest Rate (r) = (Interest / (Principal * Time)) * 100.

Front

How do you calculate commission from sales?

Back

Commission = Sales Amount * Commission Rate.

Tags

CCSS.7.RP.A.3

Front

What is the formula to calculate sales from commission earned?

Back

Sales Amount = Commission Earned / Commission Rate.

Tags

CCSS.HSA.CED.A.4

Front

How do you calculate tax on a purchase?

Back

Tax = Purchase Price * Tax Rate.

Tags

CCSS.6.RP.A.3C

Front

What is the formula to find the total cost including tax?

Back

Total Cost = Purchase Price + Tax.

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CCSS.6.RP.A.3D

Front

How do you determine the total amount paid back on a loan?

Back

Total Amount Paid Back = Principal + Interest.

Tags

CCSS.7.RP.A.3

Front

What is the relationship between principal, interest, and time in simple interest calculations?

Back

The interest earned is directly proportional to the principal and the time for which the money is borrowed.

Tags

CCSS.7.RP.A.3

Front

How do you convert a percentage to a decimal?

Back

To convert a percentage to a decimal, divide the percentage by 100.