VOCABULARY
what does "t" represent when you find the interest owed when you borrow money
The amount of time money is borrowed
Emilio's father borrows $1,200 from the bank for a riding lawn mower. the interest rate is 8% per year. how much simple interest will he pay if he if he takes 2 years to repay the loan?
$192
James invests $200 for 1 year in a bank account. The account pays simple interest at a rate of 3% per year. How much interest will he earn?
$6
10% of 1250
125
Choose an item from the bracket to complete the sentence.
When buying an item, a discount would make the item cost ______________ . (more/ less)
Less
What is the amount paid or earned for the use of money
Simple interest or interest
Mark has $1,800 from his summer job to invest for 2 years and earns $144. What is the rate of interst?
4%
Nicole invested some money for 3 years into an account that pays 2% per year which earned her $7.20 interest.
How much money did Nicole originally invest?
$120
75% of 90
67.5
Alex bought a shirt for $75 but realized it had a rip. He decided to resell it for 20% off. How much would be the discount?
$15
What is the amount of money deposited or invested?
The principal
Cory bought a $600 TV at an interest rate of 11% which he paid for over 3 years. How much interest did he pay?
$198
Evie opens up an account at Corbett Bank that pays 3% per annum simple interest. She puts $800 into the account. Evie does not make any deposits or withdrawals. After how many years will Evie earn an interest of $109?
5 years
what is 9 out of 15 as a percentage
60%
A store sells oranges for $9 a bag, but is having a half price sale. The discounted price of a bag of orange is
$4.50
What is an annual interest rate written as a percentage or decimal.
The rate
Raini has $750 in a savings account that pays 3% simple interest. How much interest will he earn in 6 months?
$11.25
$12500 is invested for 5 years at 1.1% per year simple interest Work out the interest.
$750
What is 15 out of 40 as a percent?
37.5
A car cost $24,500 but because it had a chip on the bumper, the owner decided to sell it with a 5% discount. What would be the cost of the car?
$23,275