Simple Interest

Front

What does the 'r' in the interest formula stand for?

Back

rate

Front

What is the formula for calculating simple interest?

Back

I = Prt, where I is interest, P is principal, r is rate, and t is time.

Front

What does 'P' represent in the simple interest formula?

Back

Principal (the initial amount of money).

Front

What does 't' represent in the simple interest formula?

Back

Time, in years.

Front

If you invest $1,000 at a 5% simple interest rate for 3 years, how much interest will you earn?

Back

$150

Front

If you borrow $2,000 at a 6% simple interest rate for 2 years, how much total will you pay back?

Back

$2,480

Front

What is the total amount paid after borrowing $1,500 at 4% simple interest for 5 years?

Back

$1,800

Front

How do you calculate the total amount after applying simple interest?

Back

Total Amount = Principal + Interest.

Front

If you have $800 at 3% simple interest for 4 years, what is the interest earned?

Back

$96

Front

What is the total amount after investing $2,500 at 7% simple interest for 10 years?

Back

$4,250