Simple Interest

Front

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

Back

Interest

Front

Write 4.3% as a decimal.

Back

0.043

Front

Dan borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back IN TOTAL after 2 years?

Back

$1392

Front

The simple interest formula is I=PRT. What does the T represent?

Back

Time, in years

Front

Write 0.37 as a percent (%)

Back

37%

Front

What does the 'P' in the simple interest formula I=PRT stand for?

Back

Principal amount

Front

If you invest $500 at a simple interest rate of 5% per year, how much interest will you earn in 3 years?

Back

$75

Front

What is the formula for calculating simple interest?

Back

I = PRT

Front

If the principal is $1000 and the interest earned is $200, what is the rate if the time is 2 years?

Back

10% per year

Front

Convert 12% to a decimal.

Back

0.12