Simple Interest

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

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

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

• Principle
• Interest
• Time, in hours
• Time, in years

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

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

• Important
• Interest
• Internet
• Igloo

What does the "r" in the interest formula stand for?

• Principal
• Interest
• rate
• time

The Principal and Interest are always___________.

• fraction
• decimal
• percent
• money

True of False:  Before you can calculate INTEREST your time must be in MONTHS!

• FALSE
• TRUE