Bank Accounts

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

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120

• $144

• $1,200

• $1,440

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

• Principle

• Interest

• Time, in hours

• Time, in 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

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

• $720

• $20,960

• $1,080

• $12,960