3/28 Interest Warm Up

Change 6.5% to a decimal

• .65

• 6.5

• .065

• .065%

Change 18% to a decimal

• 18

• .18

• .018

• .18%

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

• 95
• 105
• 125
• 135

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