Simple and Compound

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

• Principle
• Interest
• Time
• Percent Rate

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

• $7.50
• $26.25
• $87.5
• $262.50

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

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in INTEREST in 1 year?

• 4
• 8
• 12
• 16

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

• 7.50
• 26.25
• 87.5
• 262.50

Principal = $800 Interest Rate = 3.5% Time = 6 years Find the simple interest earned.

• 14

• 140

• 168

• 16.80

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6,500 to purchase.  The bank said that she could get a simple interest rate of 8% for 5 years.  What is the total amount that Beyonce will PAY for the chair?

• $2600
• $910
• $9100
• $260

What is the simple interest formula?

• I=rt
• I=prt
• I=bh
• I=Bh

Calculate the INTEREST earned on a $4,500 savings account that earns 2.5% simple interest over three years.

• $338.00
• $33.80
• $33.75
• $337.50

Determine the simple interest earned:  p= $2000  r= 4.6%  t= 4 years

• $2370.00
• $348.00
• $2368.00
• $368.00