Simple Interest

The simple interest formula is I=PRT.  What does the T represent?

• Principal

• Percentage rate

• Interest

• Time

Tags

CCSS.8.EE.C.7B

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

• Principal

• Rate

• Time

• Interest

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

• Percentage rate

• Principal

• Interest

• Time

Tags

CCSS.8.EE.C.7B

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

• Fraction

• Decimal

• Ratio

• Dollar Amount

Write the percentage as a decimal 37%

• 3.7

• .037

• .37

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the interest earned?

• $95

• $125

• $105

• $135

Tags

CCSS.7.RP.A.3

Gregory borrowed $2,000 for 6 years at 12% annual simple interest rate. How much interest is that?

• $120

• $144

• $1,200

• $1,440

Tags

CCSS.7.RP.A.3

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3

$2500 at 5% interest for 12 years. What is the ending balance?

• $150000

• $1500

• $4000

• $152500

Tags

CCSS.HSF.BF.A.2

Gregory borrows $1200 from a bank with 8% simple interest per year.  What is the ending balance after 2 years?

• $150

• $192

• $1350

• $1392

Tags

CCSS.7.RP.A.3