SIMPLE AND COMPOUND

Which of the following formula can be used to solve for the simple interest?

• I = Prt

• SI = Prt/100

• A= P(1 + rt)

In the equation I = Prt, what does r represent?

• Interest

• Maturity value

• Principal

What is the value of 0.008 when expressed in percent?

• 0.8%

• 1.8%

• 8%

What interest remains constant throughout the investment term?

• simple

• compound

• annutity due

In the formula, I= Prt, what is r?

• revenue

• real value

• rate of interest