Review

Front

What is the scale factor from the small fry to the large fry?

Back

3

Front

Dan borrowed $2,000 for 6 months at a 12% annual simple interest rate. How much interest will Dan earn?

Back

$120

Front

What is the total balance of an account with a starting balance of $600 at 2.4% annual simple interest for 6 months?

Back

$607.20

Front

What is the formula for simple interest?

Back

I=Prt

Front

What does the P in I =PRT mean?

Back

Principal

Front

What is simple interest?

Back

A method to calculate the interest charge on a loan or the interest earned on an investment based on the principal amount.

Front

How do you calculate simple interest?

Back

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

Front

If the principal is $1,000, the rate is 5%, and the time is 3 years, what is the interest?

Back

$150

Front

What is the total amount after earning simple interest?

Back

A = P + I, where A is the total amount, P is principal, and I is interest.

Front

If you have $500 at a 4% annual simple interest rate for 2 years, what is the total amount?

Back

$520