Simple and compound interest

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- Question 1180 secondsQ.
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

answer choices - Question 2300 secondsQ. Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?answer choices
- Question 3300 secondsQ. Julie borrowed $3,500 for 3 years at 7½% simple interest rate.

How much interest is that?answer choices - Question 4180 secondsQ. Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?answer choices
- Question 5180 secondsQ. Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?answer choices
- Question 6180 secondsQ.
The simple interest formula is I=Prt. What does the t represent?

answer choices - Question 7180 secondsQ.
If you are calculating the simple interest and you are given the time in months. How can you find the time in years?

answer choices - Question 8180 secondsQ. Principal = $800

Interest Rate = 3.5%

Time = 6 months

Find the interest earned.answer choices - Question 9900 secondsQ.
You lend $240 to your friend. He pays you back $30 in interest in one year. What interest rate did you charge your friend?

answer choices - Question 10120 secondsQ. The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.answer choices
- Question 11120 secondsQ. Write the percent as a decimal.

4.3%answer choices - Question 12120 secondsQ. What does the "I" in the interest formula stand for?answer choices
- Question 13900 secondsQ. Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?answer choices
- Question 14180 secondsQ.
The compound interest formula is:

A = P(1 + r)

^{t}What does the A represent?

answer choices - Question 15120 secondsQ.
If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

answer choices - Question 16300 secondsQ.
What does the rate have to be in?

answer choices - Question 17180 secondsQ.
the time has to be in _____________

answer choices - Question 18180 secondsQ.
The A means ____________ in compound interest

answer choices - Question 19300 secondsQ.
compound means _____________

answer choices - Question 20180 secondsQ.
interest is _________

answer choices

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