Simple Interest Video Notes

What is the formula to find interest?

• I = PRT

• I = PRF

• I = PFR

• I = TSR

Betty deposited $4900 in an account that earns simple interest at an annual rate of 2%. If the money is in the account for 3 years, how much interest will she earn?

• $294

• $5194

• $29,400

• $2940

What is the total amount paid on a $25,000 car with 8% simple interest over 90 months?

• $18,000,000

• $180,000

• $40,000

• $15,000

The interest paid was $1500 and the interest rate was 2% over 5 years. What was the principal?

• $1,500,00

• $1650

• $150

• $15,000

You put $1,000 in an account. The account earns $100 simple interest in 4 years. What was the annual interest rate?

• 2.5%

• 25%

• 0.25%

• 0.025%