Thursday December 20th Bellringer (General) - Period 6

Write the percent as a decimal.

4.3%

• 4.3

• .43

• .043

• 4300

Starting money = $350.

Interest rate = 2.5%

TIme = 3 years.

How much interest?

• $7.50

• $26.25

• $87.5

• $262.50

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

• $150

• $192

• $1350

• $1392

The simple interest formula is I=Prt.  What does the t represent?

• Principle

• Interest

• Time

• Percent Rate

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank