Simple Interest

Front

What does the 't' represent in the simple interest formula I=Prt?

Back

Time

Front

How much interest did AJ pay if he borrowed $4,000 for 5 years at 6% simple interest?

Back

$1,200

Front

How much interest did Provi pay if she borrowed $3,500 for 3 years at 7½% simple interest?

Back

$787.50

Front

How much interest do you pay if starting money is $350, interest rate is 2.5%, and time is 3 years?

Back

$26.25

Front

What does 'P' represent in the simple interest formula I=Prt?

Back

The principle, which means the amount of money borrowed or deposited.

Front

What is the formula for calculating simple interest?

Back

I = Prt

Front

If the principal is $1,000, the rate is 5%, and the time is 2 years, how much interest is earned?

Back

$100

Front

What is the interest earned on a principal of $500 at a rate of 4% for 1 year?

Back

$20

Front

If you have a principal of $2,000 and earn $300 in interest over 3 years, what is the interest rate?

Back

5% per year

Front

What is the total amount after earning $150 interest on a principal of $1,200?

Back

$1,350