Simple Interest A
What is the formula for simple interest?
I=pin
Find the simple interest paid
Principal $300 rate 6% time 4 years
72
Calculate the rate of interest (i) as a percentage for the following information.
P = $500
I = $150
n = 5
6%
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
i = 5%
n = 5
1250
If you borrowed 675 dollars for six years at a simple interest at 10%, how much interest will you pay?
405
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 principle amount for the following information.
I = $135
i = 6%
n = 5 months
$5,400
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 time (n) for the following information.
P = $900
i = 3%
I =$270
10
Calculate the rate of interest (i) as a percentage for the following information.
P = $20,000
I = $5000
n = 5
5%
Calculate the time in months (n) for the following information.
P = $2300
i = 6%
I = $69
6 months
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 Principle amount for the following information.
I = 157.68
i = 4%
n = 7 months
$6,800
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 at 3.5% per year. What is the interest earned?
315
I am an odd number. Take away a letter and I become even. What number am I?
Seven