simple interest

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

• Rate

• Principal

• Interest

• Time

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

The simple interest formula is I=PRT.  What does the T represent?

• Principal

• Time, in hours

• Interest

• Time, in years

• $750

• $900

• $2575

• $75

Dan borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back IN TOTAL after 2 years?

• $150

• $1350

• $192

• $1392

• 60%

• .06%

• 6%

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

• $7.50
• $26.25
• $87.5
• $262.50

How much interest will you make if you put $1300 in a savings bond at 6% for 7 years?

I=prt

• $546

• $54,600

• $30.95

• $1313

How much interest will be earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $80,000

• $800

• $16

• $1330

• $52.50

• $752.50

• $630