Simple Interest

What does the "P" in the simple interest formula stand for?

I = Prt

• Price

• Principle

• Percent

• Portion

Tags

CCSS.7.RP.A.3

What does the "I" in the simple interest formula stand for?

I = Prt

• Interest Rate

• Investment

• Interest ($)

• Integer

I=Prt

If t = 6 months

what number would you use in the equation?

• 6

• 72

• 0.6

• 0.5

Tags

CCSS.6.EE.B.7

I=Prt

If the interest rate is 3%

What number would be used in the equation?

• 30

• 3

• 0.3

• 0,03

Tags

CCSS.6.EE.B.6

Principle is $500

Interest is $30

Time is 24 months

What is the Interest Rate?

• r = 3%

• r = 2%

• r = 2.5%

• r = 6%

Tags

CCSS.7.RP.A.3

Principle is $500

Time is 3 months

Interest Rate is 6%

What is the Balance after 3 months?

• Balance = $7.50

• Balance = $492.50

• Balance = $507.50

• Balance = $570.50

Tags

CCSS.7.RP.A.3

Loan for $1,000

Interest Rate is 12%

Time is 2 years

How much will I have to pay back at the end of the 2 years?

• $240

• $1,240

• 2,400

• $1,024

Tags

CCSS.7.RP.A.3

I = $5,250 (0.225)(6)

0.225 is what as a percent?

• 2.25%

• 0.225%

• 225%

• 22.5%

Deposited $6,250

at 10.5%

Interest earned over "t" years is $984.38

• t = 18 months

• t = 1 year 5 months

• t = 1 year 3 months

• t = 15 months

Tags

CCSS.6.EE.B.7