Simple Interest
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Last updated about 7 years ago
8 questions
20
The formula for simple Interest is ...
The formula for simple Interest is ...
20
The P in the Interest formula represents the money that you end up with after interest is calculated.
The P in the Interest formula represents the money that you end up with after interest is calculated.
20
Though the rate in the Interest formula is presented as a percentage, it must always be calculated as a/(an)
Though the rate in the Interest formula is presented as a percentage, it must always be calculated as a/(an)
10
Robert places $500.00 in the bank for 5 years at a rate of 12%. How much interest will he earn at the end of the five years?
Robert places $500.00 in the bank for 5 years at a rate of 12%. How much interest will he earn at the end of the five years?
1
A bank is offering 2.5% simple interest on a savings account. If you deposit $5000, how much interest will you earn in one year?
A bank is offering 2.5% simple interest on a savings account. If you deposit $5000, how much interest will you earn in one year?
1
Part A: To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay after thee years?
Part A: To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. How much interest will she pay after thee years?
1
Part B: To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. What is the total amount that she will repay?
Part B: To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. What is the total amount that she will repay?
1
John’s parents deposited $1000 into a savings account as a college fund when he was born. How much will John have in this account after 18 years at a yearly simple interest rate of 3.25%?
John’s parents deposited $1000 into a savings account as a college fund when he was born. How much will John have in this account after 18 years at a yearly simple interest rate of 3.25%?