12/12 math BW

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

Tags

CCSS.7.RP.A.3

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

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.7.RP.A.3

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?

 $I=\Pr t$  

• $7.50

• $26.25

• $87.5

• $262.50

Your 3 year investment of $20,000 received 5.2% interest compounded annually. What is your total return?
 $Compound\ Interest\ \left(A\right)=\ P\left(1+r\right)^t$  

• $23,285.05

• $3,285.05

• $2,385

• $32,285