Simple Interest & Compound Interest

What is important about how time is calculated in I= Prt ?

• it must be in months
• it must be in years
• it is not calculated

Tags

CCSS.6.EE.B.7

Which of these refer to the Principal? Check all that apply?

• loan amount

• amount deposited

• amount invested

• amount earned

• amount borrowed

Match the Percent with its decimal equivalent.

• 0.012

• 1.2%

• 0.2

• 12%

• 0.122

• 12.2%

• 0.12

• 2%

• 0.02

• 20%

the time has to be in _____________

• years

• months

• days

• seconds

Tags

CCSS.7.EE.A.2

CCSS.HSA.SSE.A.2

What does the rate have to be in?

• scientific notation

• negative integers

• positive integers

• decimal

Tags

CCSS.6.RP.A.1

CCSS.6.RP.A.2

compound means _____________

• principle added into the interest

• principle subtracted from the interest

• just interest

• flovela

Tags

CCSS.8.EE.C.7B

interest is _________

• extra money paid for borrowing

• interesting

• Flocabulary songs

• time times rate

Tags

CCSS.7.RP.A.3

To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.

• compound; lowest
• simple ; lowest
• compound ; highest
• simple ; highest

If you are calculating the simple interest and you are given the time in months.  How can you find the time in years?

• divide 12 by the months
• multiply 12 times the months
• divide the months by 12
• change the months to a decimal

Tags

CCSS.7.RP.A.3

What is the formula for simple interest?

• A=P(1+r)^t
• I=Prt
• I=P(1+r)t
• A=Prt