Interest

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

What is the principle? ​ (a)  

What is the rate? ​ (b)  

What is the time? ​ (c)  

• $5,000
• 5%
• 3 years

• $300
• 6%
• 5 years

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

• Principal
• Interest
• Rate
• Time

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction
• decimal
• ratio
• dollar amount

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

The simple interest formula is I=Prt.  The P represents the principal.  The principal is ___________________.  

• the amount of money borrowed or deposited

• the percent interest for his year

• the amount taxed

• the amount the bank owes you for being a customer at their bank

Convert 18 months to years. 

• 18 Years

• 1.5 Years

• .18 Years

• You cannot change it to years.

Scientific Notation is made up of two number parts. The second part is a power 10.

• True

• False

How do you write 8.317 x 10⁶ in standard form?

Which of the following numbers is written in scientific notation?

• 20.35 x 10⁴

• .2035 x 10⁴

• 2035 ⁴

• 2.035 x10⁴