simple interest
What is the formula for simple interest?
I=prt
Find the time.
Principal $300 rate 6% Interest $72
4 years
Calculate the total amount paid back for the following information.
P = $500
r = 6%
t = 5
$650
Why was 6 afraid of 7?
Because 7, 8 (ate), 9!
An initial deposit of 5,000.00 dollars is made into a savings account pays 7.1% interest annually. How much is in the interest at the end of 5 years?
$1775
Find the Principal
r = 5%
t = 5
I = $1250
$5000
If you borrowed $675 for six years at a simple interest at 10%, how much will you pay back in total?
$1080
Calculate the principal:
time 4 years rate 6.5% Interest $104
$400
Why did the math book look so sad?
Because it was full of problems
To buy a laptop computer, Elaine borrowed $2,000 for 3 years at an annual simple interest rate of 5%. How much interest will she pay if she pays the entire loan off at the end of the third year?
$300
Gina deposits $150 at the start of the year into college savings account. She has the account for 5 years. She earns $30 in interest.
Find the rate.
4%
Debbie borrows 1,000,000 dollars for real estate development and makes annual interest payment for three years at a rate of 7.5% per year. What is her total she needs to pay back?
$1,225,000
Calculate the time
P = $5,400
r = 6%
I = $1620
5 years
Which month has 28 days?
All of them
What is the simple interest made on a deposit of $2000 at a rate of 3.5% in 5 years?
350
What is the time?
P = $900
r = 3%
I = $270
10 years
What is the total amount that is paid back?
P = $20,000
r = 5%
t = 5
$25,000
Calculate the time
P = $2300
r = 6%
I = $69
0.5
What do you call a bear with no teeth?
A Gummy Bear
A bank offering 2.5% simple interest on a savings account. If you deposit 5,000 dollars, how much interest will you earn in one year?
125
Calculate the rate.
P = $6,800
t = 7 years
I = $1666
r = 3.5%
Thomas loaned Brian $3,400 at a simple interest rate of 12% for 8 years. How much did Brian owe Thomas?
$3264
$1500 is invested for 6 years. The interest earned is $315. What is the rate?
315
3.5%
I am an odd number. Take away a letter and I become even. What number am I?
Seven