Simple Interest Find P, R or T

A bank is offering 2.5% simple interest on a savings acount. If you deposit $5000, how much interest will you earn in 1 year? Select all that are correct.

• R=0.025

• R=2.5

• P=$5000

• I=$5000

• T=1

Nancy invested $6000 at a yearly rate of 3%. She earned $450 in interest. How long was the money invested? Select all that are correct.

• I=$6000

• P=$6000

• I=$450

• T=3

• R=3

Nancy invested $6000 at a yearly rate of 3%. She earned $450 in interest. How long was the money invested?

Mr. Johnson borrowed $8000 for 4 years. He paid $2320 in interest. At what interest rate did he borrow the money? Select all that are correct.

• R=?

• T=4

• I=$2320

• P=$2320

• P=$8000

Mr. Johnson borrowed $8000 for 4 years. He paid $2320 in interest. At what interest rate did he borrow the money?

You borrowed money for 5 years at a rate of 15%. If you paid $3000 in interest, how much money did you borrow? Select all that are correct.

• T=5

• P=$3000

• R=15

• P=?

• I=$3000

You borrowed money for 5 years at a rate of 15%. If you paid $3000 in interest, how much money did you borrow?

A bank is offering 2.5% simple interest on a savings acount. If you deposit $5000, how much interest will you earn in 1 year?