simple interest 1
What is the formula for simple interest?
I=prt
Find the simple interest paid
Principal $300 rate 6% time 4 years
72
What is the total balance with a principal of $1,500 at 7% compounded annually for 3 years?
$1,837.56
How much simple interest is owed on 2,000 dollars if borrowed for 7 years at 6%?
840
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 account at the end of 5 years?
$6775
Calculate the simple interest for the following information.
P = $5,000
r = 5%
t = 5
1250
What is the total balance with a principal of $7,300 at 7% compounded annually for 3 years?
$8,942.81
Calculate the simple interest:
Principal $400 time 4 years rate 6.5%
104
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 dollars at the start of the year into college savings account that pays 4% simple interest at the end of each year. She does not deposit the interest she earns each year. How much total interest will Gina earn on her deposits through the end of the fifth year?
30
Debbie borrows 1,000,000 dollars for real estate development and makes annual interest only payment for three years at a rate of 7.5% per year. What is her total interest payment over the three year period?
225,000
Calculate the simple interest for the following information.
P = $5,400
r = 6%
t = 5 months
135
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
Calculate the simple interest for the following information.
P = $900
r = 3%
t = 10
270
What is the total balance with a principal of $12,700 at 8.8% compounded annually for 1 year?
$13,817.60
Calculate the simple interest for the following information.
P = $2300
r = 6%
t = 6 months
69
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 simple interest for the following information.
P = $6,800
r = 4%
t = 7 months
157.68
Find the amount of savings if $1,000 is deposited for three years at 8% annual interest, compounded annually.
$1,259.71
George invested $1500 at 3.5% per year. If he wants to get an amount of $1815, how long should he wait before he withdraws his money?
6
I am an odd number. Take away a letter and I become even. What number am I?
Seven