Simple interest

simple interest 1

100

What is the formula for simple interest?

I=Prt

200

An initial deposit of 5,000.00 dollars is made into a savings account that yields 7.1% interest annually. How much is in the account at the end of 5 years?

1775

300

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

400

What is the difference between simple interest and compound interest?

Simple Interest: Fixed rate on Principle over time

Compound Interest: Fixed rate on [Principle plus Interest earned] on a periodic time frame (weekly, monthly, annually, etc)

500

Pat can get a student loan of $10,000 for 10 years at an interest rate of 7%. How much will she get?

7,000

simple interest 2

100

How much simple interest is owed on 5,000 dollars is borrowed for 1 year at 5%?

250

200

What does the "P" stand for in the formula for simple interest?

What is Principal?

300

Gina deposits 150 dollars at the start of each 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

400

Marlena saved 50 dollars in an account earning 3.5% simple interest. How much more interest would her account earn in 10 years if her account earned interest compounded annually instead of simple interest?

17.5

500

Kindle loaned Marissa $20,000 to buy a car at a simple interest rate of 3.1% for 5 years. How much does Marissa owe Kindle?

3,100

simple interest 3

100

What do you call a grumpy cow?

MOOdy

200

If you borrowed 675 dollars for six years at a simple interest at 10%, how much interest will you pay?

405

300

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

400

Aaron deposits 10,000 dollars at 4% interest for 45 years. How much will he earn?

18,000

500

Mary's father has 5 daughters: -Lala -Lele -Lili -Lolo What was the name of the 5th daughter?

Mary

simple interest 4

100

How much simple interest is owed on 2,000 dollars if borrowed for 7 years at 6%?

840

200

How much money would you have to invest to earn 131.60 dollars in interest at simple interest rate of 4% for seven years?

36.848

300

Kelley puts 350 dollars in a savings account. The savings account accrues interest at a flat rate of 1.05% a month. How much will account be worth in 7 months?

25.725

400

Lilly makes regular deposits to a savings account to save money for retirement. She deposits 60,000 dollars at 7.8% for 12 years. How much did she earn?

56,160

500

What did the Pirate say on his 80th birthday?

Aye!, M'atey! 

(I'm eighty!)

simple interest 5

100

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

200

What does the "T" stand for in the formula for simple interest  

What is the Time?  

300

Thomas loaned Brian $3,400 at a simple interest rate of 12% for 8 years. How much did Brian owe Thomas?

326.4

400

Sophia borrowed 7,000 dollars from her best friend at a simple interest rate of 4.6% for 34 years. How much interest did her friend receive?

10,948

500

I am tall when I am young, and I am short when I am old. What am I?

A candle