Fin Alg 2.3 - Determining Variable in Simple Interest

What is this question asking you to find?

You deposit 2000 dollars into an account with an interest rate of 5% for 3 years, how much simple interest is earned?

• Interest (I)

• Time (t)

• Principal (P)

• Interest Rate (r)

• End Balance (B)

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Which equation will help you solve this?

You deposit 2000 dollars into an account with an interest rate of 5% for 3 years, how much simple interest is earned?

• I = 2000(0.05)(3)

• 2000 = P(0.05)(3)

• I = 2000(5)(3)

• I = 2000(0.5)(3)

Tags

CCSS.6.EE.B.7

What is this question asking you to find?

A loan of 1500 dollars earns 120 dollars in simple interest over 4 years. What was the rate of interest?

• Interest (I)

• Time (t)

• Principal (P)

• Interest Rate (r)

• End Balance (B)

Tags

CCSS.6.EE.B.7

Which equation will help you solve this?

A loan of 1500 dollars earns 120 dollars in simple interest over 4 years. What was the rate of interest?

• 1620 = 1500(r)(4)

• 1500 = 120(r)(4)

• 120 = 1500(r)(4)

• 1380 = 1500(r)(4)

What is this question asking you to find?

If you earn 300 dollars on a deposit of 1000 dollars, and the annual rate is 3%, how long did the money earn simple interest?

• Interest (I)

• Time (t)

• Principal (P)

• Interest Rate (r)

• End Balance (B)

Tags

CCSS.6.EE.B.7

Which equation will help you solve this?

If you earn 300 dollars on a deposit of 1000 dollars, and the rate is 3%, how long did the money earn simple interest?

• 300 = 1000(0.3)(t)

• 300 = 1000(3)(t)

• 1300 = 1000(0.03)(t)

• 300 = 1000(0.03)(t)

Tags

CCSS.6.EE.B.7

Which equation will help you solve this?

A savings account earns 50 dollars in simple interest over 2 years with a rate of 4%. What was your initial deposit?

• 50 = P(0.04)(2)

• 50 = P(4)(2)

• I = 50(0.04)(2)

• I = 50(4)(2)

Which equation will help you solve this?

If you invest 5000 dollars at a simple interest rate of 6% for 5 years, how much interest will you earn?

• 5000 = P(0.06)(5)

• I = 5000(0.6)(5)

• I = 5000(0.06)(5)

• 5000 = P(0.06)(5)

Which equation will help you solve this?

You want to earn 250 dollars in simple interest from a principal of 2000 dollars. What rate of interest do you need if the money is invested for 2 years?

• 2250 = 2000(r)(2)

• 250 = 2000(r)(2)

• 2000 = 250(r)(2)

• 250 = 2250(r)(2)

Tags

CCSS.6.EE.B.7

What is this question asking you to find?

If you want to earn 100 dollars in simple interest at a rate of 6%, how much principal do you need to invest for 2 years?

• Interest (I)

• Time (t)

• Principal (P)

• Interest Rate (r)

• End Balance (B)

Tags

CCSS.6.EE.B.7