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Rainbow Brite borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
Calculate the BALANCE if the principle is $250, the rate is 8% and the time is 1 year.
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
What is the percentage 7.4% written as a decimal?
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
What is the interest if you borrow $350 at a rate of 4.9% for 2 years?
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
What does the word principle mean in the interest formula?
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
When given a rate, you must convert it to a ___________ before using it in the formula.
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
What does the I stand for in the interest formula?
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
Write 49.3% as a decimal.
$1,392
$270
0.493
interest
0.074
$34.30
the amount of money borrowed or deposited
decimal
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