I = prt (p times r times t)
p=2,000 dollars, r=.10, and t=4 years. Find I.
What is $800?
100
bank
What is a local business that acts as a lender?
100
A=p(1+r)^t, where t is an exponent.
p=1,000 dollars, r=.05, and t=2 years. Find A.
What is $1,102.50?
100
loan
What is money that is borrowed?
200
deposit
What is adding money to your account?
200
I = prt (p times r times t)
Ms Dickerson took out a $25,000 loan for a new car. She is paying 5% simple interest for 5 years. Find I.
What is $6,250?
200
debit card
What is a type of card that works the same as cash?
200
A=p(1+r)^t, where t is an exponent.
p=2,000 dollars, r=.10, and t=4 years. Find A.
What is $2,928.20?
200
I = p x r x t
Mr Hay took out a $7,000 loan for a new roof on his house. He is paying 4% interest. The total interest paid is $840. Find t.
What is 3 years?
300
overdrawn
What is spending more money than you have?
300
I = prt (p times r times t)
Ms Irvin opened a savings account for 24 months. She made an initial deposit of $800. The bank is paying her 2% simple interest. Find I.
What is $32?
300
credit card
What is a type of card that works as a loan?
300
A=p(1+r)^t, where t is an exponent.
p=800 dollars, r=.03, and t=3 years. Find A.
What is $874.18?
300
withdrawal
What is taking money out of your account?
400
interest (I)
What is extra money paid on an account?...or What is I = p x r x t ?
400
I = prt (p times r times t)
Ms Trebilcock took out a $5,000 loan for a vacation. She is paying 3% simple interest for 36 months. Find I.
What is $450?
400
principal
What is the original amount invested or borrowed?
400
A=p(1+r)^t, where t is an exponent.
p=500 dollars, r=.07, and t=60 months. Find A.
What is $701.28?
400
I = p x r x t
Ms Superville took out a $1,200 loan for tires and wheels. She is paying off the loan in 24 months. The total interest paid is $144. Find r.