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

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

• Principle

• Interest

• Time

• Percent Rate

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

• Important
• Interest
• Internet
• Igloo

The compound interest formula is:

A = P(1 + r)^t

What does the A represent?

• The amount of interest earned.

• The amount of time that has passed.

• The total amount of money after a certain amount of time.

• The amount required to invest.

What does the rate have to be in?

• scientific notation

• negative integers

• positive integers

• decimal

compound means _____________

• principle added into the interest

• principle subtracted from the interest

• just interest

• flovela

interest is _________

• extra money paid for borrowing

• interesting

• Flocabulary songs

• time times rate

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, what will be the total amount of money in your savings account after three years?

• $337.56
• $1837.56
• $31500
• $30000