SIMPLE INTEREST

SOLVE FOR I

100

I = ?

P = 2000

r = 2%

t = 1 year

$40

200

If you borrow $600 for seven years at an interest rate of 7%, how much interest will you pay?

$294.00

300

If you borrow $500 at 6% for three years, how much will you pay back by the end of the term?

$590.00

400

I = ?

P = 15,000

r = 5.5%

t = 9 months

$618.75

500

I = ?

P = 250,000

r = 4.5%

t = 30 years

$337,500

SOLVE FOR P

100

I = 1800

P = ?

r = 3%

t = 2 years

$30,000

200

I = 1000

P = ?

r = 1.5%

t = 3 years

$22,222.22

300

If you put money into a saving account that earns $450 over 6 years at a rate of 5%, how much money did you put into the account?

$1500

400

If you put money into a savings account that earns $65 over 3 years at a rate of 2%, how much money did you put in the account?

$1,083.33

500

I = 1250

P = ?

r = 2.75%

t = 18 months

$30,864.20

SOLVE FOR R

100

I = 650

P = 5000

r = ?

t = 2.5 years

5.2%

200

I = 1000

P = 15000

r = ?

t = 3.5 years

1.9%

300

I = 2500

P = 12500

r = ?

t = 4 years

5%

400

The cost of a loan for $900 over one year is $72.00. What was the rate on the loan?

8%

500

The cost of a loan for $600 over one year is $60. What is the rate on the loan?

10%

SOLVE FOR T

100

I = 150

P = 2000

r = 2% 

t = ?

3.75 years

200

I = 675

P = 5000

r = 3%

t = ?

4.5 years

300

I = 1500

P = 15000

r = 5%

t = ?

2 years

400

If you received $252.00 on a $400 investment at a rate of 9%, how long did you invest the principal?

7 years

500

Jim invested $4,000 in a bond at a yearly rate of 4.5%. He earned $540 in interest, how long was the money invested?

3 years

CONVERSION

100

5% as a decimal

0.05

200

0.025 as a percent

2.5%

300

0.0356 as a decimal

3.56%

400

1/4 as a decimal

0.25

500

9/12 as a decimal

0.75