Simple Interest

Front

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

Back

Rate

Front

Write the percent as a decimal 3.25%.

Back

0.0325

Front

Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?

Back

$12

Front

You invest $3,000 in a bank account paying 6.5% simple interest annually. How much interest will you receive after 30 months?

Back

$487.50

Front

Beyonce took a loan of $6500 at a simple interest rate of 8% for 5 years. What is the total amount she will pay for the chair?

Back

$9100

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

If you have a principal of $500 and a rate of 5% for 2 years, what is the simple interest?

Back

$50

Front

Convert 12% to a decimal.

Back

0.12

Front

If you earn $20 in interest on a principal of $200, what is the interest rate?

Back

10%

Front

What is the time period in years if you earn $15 interest on a principal of $300 at a rate of 5%?

Back

1 year