simple Interest

Front

What does the P in I = PRS mean?

Back

Principal

Front

What does the R in I = PRS mean?

Back

Rate

Front

What does the T in I = PRS mean?

Back

Time (in years)

Front

What is the formula for calculating simple interest?

Back

I = PRT

Front

Convert 0.25 to a percent.

Back

25%

Front

Convert 0.5 to a percent.

Back

50%

Front

If you invest $1,000 at a rate of 4% for 3 years, how much interest will you earn?

Back

$120

Front

If you borrow $2,000 at a rate of 5% for 2 years, how much interest will you pay?

Back

$200

Front

What is the total amount to be paid back on a loan of $5,000 at 6% for 5 years?

Back

$6,500

Front

How much simple interest is earned on $3,000 at 7% for 4 years?

Back

$840