Simple Interest

Front

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

Back

Principal

Front

9 months is how many years?

Back

0.75 years

Front

Write the percent as a decimal: 3.25%

Back

.0325

Front

Write the percent as a decimal: 4.3%

Back

.043

Front

You invest $500 at 4% rate and receive $60 in simple interest. How many years was it invested for?

Back

3 years

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time

Front

If you have a principal of $1000 and a rate of 5%, how much interest will you earn in 2 years?

Back

$100

Front

Convert 12% to a decimal.

Back

.12

Front

If you invest $2000 at a 3% interest rate for 4 years, what is the total interest earned?

Back

$240

Front

What is the relationship between principal, rate, and time in the context of simple interest?

Back

Interest is directly proportional to principal, rate, and time.