Simple Interest

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

Tags

TEKS.MATH.6.4E

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

• Principal
• Interest
• rate
• time

Tags

TEKS.MATH.8.8C

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

• Add 12 to the months

• divide the months by 12

• multiply 12 times the months

• You cannot change it to months.

Tags

TEKS.MATH.7.4D

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

• Principal
• Interest
• Rate
• Time

Tags

CCSS.HSA.SSE.A.1

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

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

TEKS.MATH.8.8C

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

• Principal
• Interest
• rate
• time

Tags

TEKS.MATH.8.8C

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?

Tags

TEKS.MATH.7.4D

Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

Tags

TEKS.MATH.7.4D

Mark took out a loan for $25,690 to purchase a new truck at a simple interest rate of 5.2%. How much interest will he pay on his truck after 5 years?

Tags

TEKS.MATH.7.4D

The Henley’s took out a new home loan for $195,000 at a simple interest rate of 4.3%. How much will they pay in interest after 30 years?

Tags

TEKS.MATH.7.4D